Palm down after posting a Q4 loss
Palm, Inc. (Nasdaq:PALM) dipped 6% in early Friday trading after having reporting a larger-than-expected quarterly loss on Thursday. The mobile phone retailer posted a fourth-quarter net loss of $43.4 million, or $0.40 per share, compared with a net gain of $15.4 million, or $0.15 per share, in the same quarter a year earlier. The Sunnyvale, Calif.-based company attributed the loss to lower sales of its more expensive Treo product and increased sales of its cheaper Centro phone. The Centro has much lower margins than the Treo, the company said.
Shares of Palm, Inc. were at $6.12 Friday, about $0.42 lower than Thursday’s close.
Shares of Palm, Inc. were at $6.12 Friday, about $0.42 lower than Thursday’s close.
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