
Think of it this way: The size of RIM’s subscriber base is a rough proxy for the direction of its service revenue. The company makes that clear in last quarter’s earnings filing:
“The growth in international markets was offset by continued weak results in the second quarter of fiscal 2013 in the United States where a 12 percent decline in the subscriber base has caused service revenue to decline by 12 percent.”
Subscribers down 12 percent? Service revenue was down the same amount. Pretty straightforward.
Where Things Are Headed
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