Blackberry sees profits increase

The firm’s profits were boosted by a rise in subscribers

Research in Motion, the maker of Blackberry phones, saw its profits beat expectations for the quarter thanks to an increase of subscribers.

The firm saw profits reach $643m (£393.4m) for the three months to 30 May, a 53% rise on the $482.5m profit seen in the same period a year before.

Shares in the company fell 5% in after-hours trading as the firm’s outlook was seen to disappoint investors.

The firm saw an additional 3.8 million subscribers during the period.

Pete Misek, an analyst with Canaccord Adams described the results as a solid quarter but added that “expectations going into this were really high, so I think there’s going to be a little bit of disappointment with the guidance”.

For the next quarter the Canadian firm said it expected revenue to reach between $3.45bn and $3.7bn.