[R]5:00PM New York – Research in Motion earnings doubles in the quarter and raises the revenue and earnings guidance.[/R]

Research in Motion (RIMM: chart) reported second quarter earnings of 50 cents per share compared to 25 cents a year ago.

Revenue in the fiscal 2008 second quarter jumped 27% to $1.37 billion from $1.08 billion from a year ago. Of the total revenue collected in the quarter, wireless devices generated 78%, services 15%, software 4%, and other were 3%. The company said 1.45 million new subscribers were added in the quarter and 3 million devices were shipped. At the end of the quarter the company had 10.5 million subscribers and had shipped 20 million devices.

The company CEO Jim Balsillie said “we expect recent product and market initiatives to extend our business momentum through the remainder of the fiscal year.""

The net income in the quarter was $287.7 million compared to $223.2 million a year ago. Earnings per share were 50 cents per share compared to 25 cents a year ago. The earnings per share reflect three for one stock split implemented in the quarter.

Gross margin in the quarter declined to 51.3% from 51.7% a year ago and total number of outstanding shares increased to 559.2 million from 558.066 million.

The company spent $79 million in the quarter for capital expenditure. Cash other investment at the end of the quarter increased to $1.73 billion from $1.56 billion.

The company guided for the third fiscal quarter revenue between $1.60 and $1.67 billion and earnings between 59 cents and 6 cents. The company expects to add 1.65 new subscribers.