Wall Street

RIM Stocks Plunge

BlackBerry's performing well, but changes to revenue model scare folks


Research In Motion Ltd. shares plunged Friday after the company announced unspecified changes to a key source of its revenue stream late Thursday.

The make of BlackBerrys reported largely better-than-expected earnings on Thursday and bolstered its cash position in the quarter, both encouraging moves as it ramps up a marketing drive for two new phones due on Jan. 30.

But in a conference call with investors and analysts after the company's fiscal third-quarter results were released late Thursday, Chief Executive Thorsten Heins said RIM's service-revenue model would change significantly next year.