“Palm Inc. had its first loss in more than three years as sales of its Treo e-mail phone lagged behind the BlackBerry and iPhone. The company’s shares fell 4.5 percent after this quarter’s forecast missed analysts’ estimates,” Ville Heiskanen reports for Bloomberg.
“The first-quarter loss was $841,000, or 1 cent a share, compared with a profit of $16.5 million, or 16 cents, a year earlier, Palm said today in a statement. Treo sales fell to 689,000 in the quarter, which ended Aug. 31, from 750,000 in the previous period,” Heiskanen reports.
“Palm shares dropped 72 cents to $15.28 in extended trading after the report. They had fallen 27 cents to $16 at 4 p.m. New York time on the Nasdaq Stock Market,” Heiskanen reports.
“Research In Motion, based in Waterloo, Ontario, probably shipped about 3.18 million BlackBerrys in its latest quarter, RBC Capital Markets analyst Mike Abramsky wrote in a note today. The company reports earnings on Oct. 4,” Heiskanen reports.
“The iPhone, which combines Cupertino, California-based Apple’s iPod music player with a Web-browsing mobile phone, sold 1 million units in the first 74 days after its June 29 debut,” Heiskanen reports.
Full article here.