Palm updates its guidance for its fiscal year 2010
Things have definitely been rocky over at Palm where they witnessed some extreme lows to only experience the fruits of their success again and finally brought straight back to reality in the course of a year. With that said, Palm has gone ahead and updated its guidance for its fiscal year 2010 revenues that is expected to be “well below” the forecasted range of $1.6 billion to $1.8 billion. They now anticipate third quarter revenues to come in somewhere between $285 million and $310 million on a generally accepted accounting principles (GAAP) and between $300 million to $320 million on a non-GAAP basis. Palm CEO Jon Rubinstein said, "Palm webOS is recognized as a groundbreaking platform that enables one of the best smartphone experiences available today, and our work to evolve the platform and bring industry-leading technology to market continues. However, driving broad consumer adoption of Palm products is taking longer than we anticipated." Palm expects to announce its official third quarter earning on March 18, 2010. Six months ago when the Palm Pre was still garnering a lot of attention, it was unfathomable to see Palm almost back to its original situation before the unveiling of webOS. They've managed to dodge a lot of stuff in the past, but fierce competition in the market may force them to look elsewhere to survive in this cut throat industry.