Research in Motion’s troubles look like it’s not going to ever let up. The BlackBerry maker has released details about its first quarter 2012 financial report and it just shows the extent of the bad situation the company is in right now.
First off, the company posted a loss of $0.37 per share on its total worth of $2.8 billion – a 33 percent drop from the $4.2 billion in revenues it posted in the quarter before it. The net loss RIM suffered was pegged at $518 million just for the quarter. To make a bad situation even worse, the company has announced that it will be cutting 5,000 more jobs as one of its strategies to try and save $1 billion. [Read more...]