Research In Motion, maker of the BlackBerry line of smartphones, shrugged off significant challenges from Apple's iPhone and a host of new phones running Google's Android OS to exceed Wall Street projections for its third fiscal quarter and raised its guidance for Q4, sending its stock up in after-hours trading.

For the quarter ended November 30, 2009, RIM (NASDAQ: RIMM) reported a net income of US$628.4 million, or $1.10 per share, on sales of US$3.92 billion. That's a 58 percent growth in net income and a 41 percent growth in revenue when compared to the same period last year.

A survey of analysts by FactSet Research had projected EPS of $1.04 on revenue of $3.78 billion. Shares of RIM were up more than 12 percent in after-hours trading.

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