Research in Motion on September 24 reported revenues of $3.5bn for the quarter ending on August 29, an increase of 37% over the same period last year. Analysts had expected the BlackBerry maker to report $3.6bn of revenue.

The company expects revenues of $3.6bn to $3.85bn in the current quarter. Analysts had on average expected $3.9bn.

Rival handset maker Palm sold 23m shares on September 23 at $16.25 apiece, a 5% discount to the previous day’s closing price. The firm's stock price has nearly doubled over the past six months.

• Research in Motion release