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Palm reports better than expected earnings; stock soars after hours

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

Posts: 679; Member since: Jun 22, 2009

yup finally something to bring Palm into the mobile competition

2. Kiltlifter

Posts: 742; Member since: Dec 11, 2008

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

Posts: 115; Member since: Feb 10, 2009

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

Posts: 742; Member since: Dec 11, 2008

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

Posts: 66; Member since: Apr 07, 2009

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

5. ddripp

Posts: 63; Member since: Dec 11, 2008

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

Posts: 139; Member since: Mar 24, 2009

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

6. ddripp

Posts: 63; Member since: Dec 11, 2008

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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