Research in Motion said on Thursday quarterly profit rose almost 20 percent, but the BlackBerry maker's shares fell 3.7 percent in trade after the bell as shipments and subscriber growth fell short of expectations.

RIM, facing stiff competition from the likes of Apple's iPhone and Motorola's Droid, posted fiscal first-quarter earnings of $769 million, or $1.38 a share, in the three months ending May 29, up from $643 million, or $1.12, in the same period last year.

Quarterly revenue rose 24 percent to $4.24 billion.

The Waterloo, Ontario-based company said shipments topped 11 million and it added 4.9 million new subscribers in the quarter. Both numbers came in toward the low end of the company's forecast range but were short of what analysts had expected.

Analysts on average had forecast earnings of $1.34 a share, on revenues of $4.35 billion, according to Thomson Reuters I/B/E/S.

The BlackBerry maker expects to add between 4.9 million and 5.2 million new subscribers in the current quarter.

The company also forecast fiscal second-quarter earnings of $1.33 to $1.40 a share, on revenue of between $4.4 billion and $4.6 billion.

The company also said its board has authorized a share repurchase program to purchase up to approximately 31 million common shares.

Shares of RIM fell $2.18 to $56.40 in post-market trade in the United States.

(Reporting by Euan Rocha)