Palm on the Wrong Kind of Roll: Reports Loss for 7th Quarter In-A-Row
By James Falconer on Thursday, March 19th, 2009 at 10:33 PM PST In Apple, Palm, Palm Pre, iPhone
Palm (NSDQ: PALM) has reported losses that fell well short of analysts estimates for the third-quarter of 2008:
The net loss expanded to $95 million, or 89 cents a share, from $54.7 million, or 53 cents, a year earlier, Palm said in a statement on Thursday. Excluding costs for stock-based compensation and other items, the loss of 86 cents a share missed the average 57-cent estimate of analysts surveyed by Bloomberg.
Not good, especially when you consider that palm has reported losses in the last seven quarters. Times are tough.
Palm is of course hinging all hopes on the upcoming launch of the Palm Pre. Will the Pre be Palm’s savior, or will it fall short of the mark? All information to-date would lead one to believe the Pre will guide Palm to greener pastures, but stranger things have happened. Rumblings of next gen iPhone models (and more) are now coming out in the Blogosphere… It could very well be that Apple (NSDQ: AAPL) hopes to swoop in and steal a portion Palm’s thunder this spring/summer.
No matter which way you slice it, I plan on picking up a Pre AND any new iPhone model that Apple may produce. Yeah, I’m a mobile junkie, I admit it.
[Via: The New York Times]
