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Research in Motion had an answer late Thursday for all the hype over Apple's iPhone: when it comes to the market for handheld devices, RIM's got a big head start.

RIM shares soared 14 percent to $190 a share in after-hours trading after the company trounced Wall Street estimates and announced a three-for-one stock split. The company's sales were $1.082 billion, up 77 percent from the year-ago quarter 16 percent sequentially. Analysts were expecting sales of $1.05 billion. RIM's earnings of $1.17 a share were 11 cents better than expected, and subscriber growth of 1.2 million topped estimates by 60,000.

The company will ship its 20 millionth BlackBerry device this summer.

But competitor Palm didn't fare nearly as well, falling after hours after the company missed sales estimates and warned that current quarter results will come in below expectations.

Story Courtesy of internetnews.com