Palm reports improved quarterly income

Palm reports improved quarterly income

Palm Inc. has come out with their latest quarterly results and they have posted a higher quarterly profit. Palm seems to have benefited from the rising popularity of the recently launched Treo mobile phones.

However, they posted a revenue forecast that was below Wall Street estimates. This alone resulted in their stocks taking a beating in the share market.

Palm said in their report that the net income was up to $27.2 million, or 25 cents a share. This is an improvement over $17.7 million or 17 cents a share in the same period last year.

Markets had expected them to post a profit of 23 cents a share. The revenues were also up 20 percent to $403.1 million. This was somewhat below the market expectations of $405.4 million.