BlackBerry Maker RIM Disappoints

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Outlook comes in below expectations while profit and average selling prices declined.

Research In Motion (NASDAQ: RIMM) today reported a drop in quarterly profits and an outlook that came in shy of Wall Street estimates.

For its second fiscal quarter of 2010, ended Aug. 29, RIM said income came in at $475.6 million, or $0.83 a share, down 4 percent from a profit of $495.5 million, or $0.86 a share, for the same period last year.

Revenue totaled $3.53 billion, up 3 percent from $3.42 billion in the previous quarter and up 37 percent from $2.58 billion a year ago. Read More>>