Palm faces Q2 loss as smartphone sales drop!December 21st, 2009 - 01:42 pm by Wajiha H.
Smartphones are everywhere practically; every major company is coming up with one, Palm Pre and Palm Pixi have also been one of the successful ones. But a strange thing has happened as fiscal reports of the second quarter have been released lately, Palm has suffered from a loss and it is being rumoured that this all has happened basically due to a general drop in Smartphones sales. Whatever the reason for that is, we don’t know, but Palm is definitely the one to suffer here! Read on.
 The company has reported a loss of almost $85.4 million, or $0.54 per diluted share, which is heartbreaking but definitely better than the loss that it suffered last year for the same quarter which was $508.6 million or $4.64 per diluted share. But last year was a bit different in a sense that there was a large tax charge included in it which inflated the loss numbers. It has also been reported by the Wall Street journal that the company's shares dropped 3.8 percent to $11.28 in after-hours trading following the announcement. As reported by the manufacturer, a total of 783,000 smartphone devices(Palm Pixi and Palm Pre) were shipped last quarter with a 41 percent year-over-year increase and a 5 percent decrease from the first fiscal quarter. The revenue of Palm dropped to $78.1 million, which amounts to a 59 percent year-over-year drop from revenue of $191.6 million that it posted last year. Source Related ArticlesRelated articles to Palm faces Q2 loss as smartphone sales drop!.
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