(Updated with stock price and analysis of stock movement.)

FORT WORTH, Texas (

TheStreet

) -- Despite missing third-quarter profit forecasts, shares of

RadioShack

(RSH)

are soaring on better-than-expected revenue.

Shares are rising by 14.5% to $17.93, as revenue came in at $990 million, somewhat dramatically surpassing the $961.7 million analysts expected.

During the quarter, the company earned $37.4 million, or 30 cents a share, down 24% from $49.1 million, or 38 cents, in the year-ago period. Results were one penny shy of analysts' estimates.

Total same-store sales dipped 2.9%, as RadioShack saw weakness in its laptop computers, converter boxes and wireless accessories.

The company has faced increased pressure from retailers like

Best Buy

(BBY) - Get Report

and

Wal-Mart Stores

(WMT) - Get Report

. Earlier this month,

Wal-Mart said it will sell non-contract, discounted mobile services

.

Best Buy has also been ramping up its mobile offerings and rolling out new Best Buy Mobile stores.

RadioShack has been incorporating more popular products like

Apple's

(AAPL) - Get Report

iPod and iPhones and expanding its wireless offerings in an effort to compete with these rivals.

-- Reported by Jeanine Poggi in New York

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