The BlackBerry maker, Research In Motion announced a boost in sales and earnings for its fiscal Q1.

The jaunty demand for smartphones did well to the Canadian company's sales and earnings.

As per company's statement its fiscal Q1 earnings rose 33%, to $1.12 a share, as sales jumped 53% as compared to the last year.

Fiscal Q1 earnings were $643 million, up from $482.5 million last year.

The results divulged that RIM is still having a large share of the market while its facing tough competition from other smartphone makers.

It may be noted here that its rivals mainly Apple and Palm are also in the field with their popular smartphones iPhone and Pre, respectively.

Still, after the release of the report RIM's shares initially slumped in extended trading, when the company's projections for the current quarter failed to match expectations of the most optimistic Wall Street analysts.

Speaking on the announced numbers by RIM, analyst Peter Misek said that the hopes were so high that they were impossible to meet.

Now, RIM has expectations to sell 8.1 million to 8.7 million devices, adding 3.8 million to 4.1 million subscribers, in the quarter ending on Aug. 29.

In a statement, co-CEO of RIM said, "The industry-leading BlackBerry product portfolio is driving strong customer demand around the world and our penetration of new market segments continues to expand."