High Bar Hits RIM

Updated from 4:55 p.m. EDT

Shares of BlackBerry maker Research In Motion(RIMM Quote) dipped as the company failed to blow past analysts' expectations for the second quarter -- even as it guided higher for the current quarter.

Investors, who have come to expect surging quarterly growth from RIM on cue, sold the stock in after-hours trading. Shares of RIM were off $1.90, or 1.8%, to $98.64 in recent extended trading.

Net income for the second quarter was $287.7 million, or 50 cents a share, up from net income of $140.2 million, or 25 cents a share, in the same quarter last year.

Analysts polled by Thomson Financial were expecting earnings of 50 cents a share.

Revenue for the quarter was $1.37 billion, up 108% from $658.5 million in the same quarter of last year. Analysts were expecting revenue of $1.36 billion.

The revenue breakdown for the quarter was approximately 78% for devices, 15% for service, 4% for software and 3% for other revenue.

The usual summer slowdown did not affect RIM's results thanks to a number of new devices including a BlackBerry 8830 World edition smartphone and the Curve 8310, and continued demand for the Pearl Pearl 8100 and the Curve 8300, said RIM.

Approximately 1.45 million BlackBerry subscriber accounts were added in the quarter and over 3 million devices were shipped. So far, RIM has shipped nearly 20 million phones, and the company's phones are available from 325 carriers worldwide.