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RIM's BlackBerry Jam

Looking ahead, analysts expect RIM's third-quarter earnings to grow 56% sequentially over the second quarter on sales of $5.27 billion.

Analysts don't have high hopes for RIM's PlayBook tablet sales but a few have raised their phone sales estimates for the second quarter slightly above the 14 million units consensus level.

RIM shares are up more than 20% from the five-year low they hit on August 5 but even with that bounce, the stock is down nearly 50% since the start of 2011. The shares were changing hands at $29.94 on Thursday afternoon, up 22 cents ahead of the report. The forward price-to-earnings multiple on the stock is just 5.8X though, less than half that of Apple shares at 12.1X.

TheStreet will cover RIM's earnings in a live blog beginning at 3:45 p.m. ET today.

--Written by Scott Moritz in New York.

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