RIM’s fourth quarter financial train wreck

RIM reported its financial results today and it doesn’t look good. Here are some highlights:

  • Revenue of $4.2 billion, down 19% from the third quarter and down 25% from $5.6 billion in the same quarter of fiscal 2011
  • BlackBerry smartphone shipments of 11.1 million in Q4, down 21% from Q3
  • RIM to discontinue providing specific quantitative guidance
  • Shipped over 500,000 BlackBerry PlayBook tablets
  • Jim Balsillie, former Co-CEO of the Company, has resigned as a Director on the Company’s Board
  • David Yach will be retiring from his role as CTO, Software after 13 years with the Company
  • After 4 years with the company and following an open dialogue on the future of global operations, Jim Rowan, COO, Global Operations, has decided to pursue other interests.

Not one piece of good news. Except Balsillie is out, I guess.