RIM Reports Loss, More Layoffs In Another Dismal Quarter
Research In Motion's first quarter added another layer to an already teetering stack of pain, as the Canadian vendor posted a loss of 37 cents per share -- $518 million -- and a 42 percent drop in revenue.
That wasn't all: RIM revealed that its BlackBerry 10 operating system won't be ready until next year and that BlackBerry shipments dropped nearly 30 percent. RIM also said it was moving ahead with layoffs and would eliminate 5,000 jobs throughout the year.
None of this news inspired investors, and RIM shares plummeted more than 15 percent.