Research In Motion (NASDAQ: RIMM) last week reported a drop in quarterly profits and an outlook that came in shy of Wall Street estimates.

For its second fiscal quarter of 2010, ended Aug. 29, RIM said income came in at $475.6 million, or $0.83 a share, down 4 percent from a profit of $495.5 million, or $0.86 a share, for the same period last year.

Revenue totaled $3.53 billion, up 3 percent from $3.42 billion in the previous quarter and up 37 percent from $2.58 billion a year ago.

Minus one-time expenses, including a charge for a patent settlement payment to mobile e-mail provider Visto Corp., earnings came in at $1.03 per share. Analysts had expected earnings of $1 a share on revenue of $3.62 billion, according to Thomson Reuters.

But while RIM beat the Street on earnings, the BlackBerry maker said revenue for the current quarter would come up short of analysts' expectations. The company said Q3 revenue would fall in the range of $3.6 billion to $3.85 billion -- shy of the $3.95 billion analysts were expecting.

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