BlackBerry firm misses analysts' profit estimates

Research In Motion Ltd, the maker of the BlackBerry e-mail phone, missed analysts' profit estimates for the first time in five quarters and gave a disappointing forecast amid higher spending to take on Apple Inc's new iPhone.

The shares fell 7.6 percent after Research In Motion reported first-quarter profit of 84 cents a share, trailing the 85 cents predicted by analysts in a Bloomberg survey. Earnings this period will be as little as 84 cents, compared with the 92-cent average prediction.

Co-Chief Executive Officer James Balsillie boosted selling and marketing expenses by 84 percent in the quarter to counter the buzz of the iPhone and new handsets from smaller rival Palm Inc. Apple will release a faster iPhone next month that costs $199, cheaper than some BlackBerry models. That may hinder Research In Motion's expansion beyond its corporate stronghold.