Palm reports improved quarterly income
June 30th, 2006 Leave a comment Visited 16 times, 2 so far today
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.
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