NEW YORK (AP) - Research in Motion Ltd., the maker of the BlackBerry, says its profit jumped 31 percent in its latest quarter, but it expects sales to shift toward cheaper models this quarter.
RIM shares are falling almost 11 percent in afterhours trading.
The Waterloo, Ontario-based company says net income was $934 million, or $1.78 per share, in fiscal fourth quarter, which ended Feb. 26. That’s up from $710 million, or $1.27 per share, a year earlier.
Analysts surveyed by FactSet expected earnings of $1.75 per share, on average.
Revenue rose 36 percent to $5.6 billion, just shy of the $5.65 billion expected by analysts.
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