RIM Beats (Low) Expectations

Yesterday after market close, Research In Motion reported its financial results for the quarter that ended September 1, 2012. The struggling smartphone maker surprised analysts wither lower-than-expected losses on higher-than-expected revenue.

RIM’s Blackberry business continues to struggle though: From June through August, RIM sold 7.4 million smartphones and no more than 130,000 Blackberry Playbook tablets. CEO Thorsten Heins admitted that his company is going through a major transition but expressed hopes that BlackBerry 10, RIM’s new mobile platform due in 2013, can make an impact in smartphone and tablet markets.

Investors appear to share Heins’ optimism: RIM’s stock is currently trading 15 percent above yesterday’s closing price.