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RIM Earnings, Sales Fall Short as BlackBerry Demand Wanes

Research In Motion Ltd. reported revenue and profit that fell short of analysts’ estimates and said it will discontinue giving financial forecasts as demand for BlackBerry smartphones wanes.

Fourth-quarter earnings excluding one-time items fell to 80 cents a share and sales dropped 25 percent to $4.19 billion, the Waterloo, Ontario-based company said today in a statement. Analysts predicted earnings of 81 cents and sales of $4.51 billion, the average of estimates compiled by Bloomberg. RIM also said Jim Balsillie, its former co-chief executive officer, has resigned from the board.