As expected, Palm reported dismal earnings for its third quarter. Last month, the company sharply cut its outlook for the third quarter and fiscal 2010 because "driving broad consumer adoption of Palm products is taking longer than we anticipated."
For the quarter, Palm reported a non-GAAP net loss of $102.8 million, or 61 cents per share, far beyond the 42 cent loss Wall Street had been expecting. Non-GAAP adjusted revenue was $366 million, which was actually better than the $316.2 million that Wall Street had been looking for, after Palm waved the warning flags last month. … Read more