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Palm reports better than expected earnings; stock soars after hours

Posted: , by Alan F.

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Palm reports better than expected earnings; stock soars after hours
Palm reported a loss for the fourth quarter of 40 cents a share not including one time items.  While that was a bigger loss than the 22 cents a share of red ink posted last year, it beat estimates of a 62 cent a share deficit and the stock shot up to a new high of $16 after hours as a result. Analysts were expecting sales of about $80 million and the manufacturer trampled over that estimate by reporting $113.2 million in sales for the latest period.

New Palm CEO Jon Rubenstein said, "The launch of Palm webOS and Palm Pre was a major milestone in Palm's transformation."  "We have now officially re-entered the race," continued Rubenstein, sounding like the third politician in a two person battle. The Pre was released on June 6 and analysts estimate that 150,000 units have since been sold.

source: TheStreet.com

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8 Comments

1. behold--me posted on 20 Oct 2010, 01:43

yup finally something to bring Palm into the mobile competition

2. Kiltlifter posted on 25 Jun 2009, 17:46

you are ignorant on so many levels. This is palm re-entering a market they once dominated hands down. People still call their blackberries and windows devices "palm pilots". The webOS was a much needed change to and outdated operating system and new leadership to a old and failing business model. If anything, apple's release of the iPhone was apple "finally" bringing something to the table. You should stop posting and start getting an education.

3. chupum posted on 25 Jun 2009, 19:01

Whoa Kiltlifter. I'll agree with your point, but why be so harsh? Is your family name "Palm" and behold-me insult your entire clan? Did behold-me somehow insult your mother or something equally atrocious? Let's not get our kilts in a bunch.

4. Kiltlifter posted on 25 Jun 2009, 22:53

chupum... i was harsh because i had read some of his posts before and every single one of them is pointless and horrible... they have the same effect as transformers 2 did in making all who watch it "dumber"; readings his posts make everyone forget vocabulary they once knew.

8. yourmom07 posted on 26 Jun 2009, 18:54

AWW WHY DO WE HAVE TO BRING TRANSFORMERS 2 IN THIS SHIA IS HEAVEN SENT!

5. ddripp posted on 26 Jun 2009, 16:07

Kitlifter, it really not that serious. about u get a fucking life and stop getting too emotional over someone else's posts about an article. u're the worst. is that all u do? Moron...

7. attsucks posted on 26 Jun 2009, 18:11

Are you stupid or something? Did you fail grammar in school?

6. ddripp posted on 26 Jun 2009, 16:07

Kitlfter, about u get a fucking life and stop getting too emotional over someone else's post about an article. u're the worst. Moron...

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