Palm Inc.'s quarterly net loss widened, as the company works to revitalize its line of smartphones amid stiff competition. For its first fiscal quarter ended Aug. 31, Palm posted a net loss of $39.5 million, or 30 cents a share, compared with a net loss of $841,000, or a penny a share, the year earlier. Revenue rose 1.7% to $366.9 million as the company's smartphone sales increased 49% to over one million units.
Monday, September 29, 2008
Net Loss Widens As Revenue Rises
Palm Inc.'s quarterly net loss widened, as the company works to revitalize its line of smartphones amid stiff competition. For its first fiscal quarter ended Aug. 31, Palm posted a net loss of $39.5 million, or 30 cents a share, compared with a net loss of $841,000, or a penny a share, the year earlier. Revenue rose 1.7% to $366.9 million as the company's smartphone sales increased 49% to over one million units.
