RIM Roasts Targets, but Subs Fall Short

(Updates with company's comments)

Research In Motion (RIMM) blew past Wall Street profit targets on in-line sales for its first quarter, but new-subscriber numbers came up short.

The Toronto-based BlackBerry maker posted adjusted earnings, excluding one-time items, of $564.4 million or 98 cents a share, up from 84 cents in the year-ago period. Analysts were looking for pro forma earnings of 94 cents a share, according to ThomsonOne. And the so-called investors' whisper number was 96 cents.

Sales for the quarter ended last month were $3.42 billion and nearly spot on with analysts' estimates, which called for sales of $3.43 billion. ...