BlackBerry leads smartphone pack, but RIM outlook disappoints

Another great quarter from Research In Motion (RIMM). After the closing bell today, the Waterloo, Ontario–based BlackBerry marketer reported $643 million in earnings ($1.12 per share) for the first quarter of fiscal 2010, ending May 30, compared with $482.5 million (84 cents per share) a year earlier. Excluding a $175.1 million tax benefit and other one-time items, RIM earned $564.4 million (98 cents per share). The company also announced revenue of $3.42 billion, up 53 percent from the same quarter last year.

The numbers, while impressive, are mostly in line with expectations. About 81 percent of revenue came from sales of devices; 13 percent came from service, 2 percent from software, and 4 percent from other businesses. Gross margins were strong at 43.6 percent -- better than the 40 percent margins in its fourth quarter.