Palm’s First-Quarter Revenue Misses Forecast
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Palm Inc. said its fiscal first-quarter revenue missed the company’s forecast as demand for its Treo e-mail phones dried up and rivals came out with newer products.
Sales totaled $354 million to $356 million in the period ended Sept. 1, trailing a previous projection of at least $380 million. Profit excluding some items was 18 cents to 19 cents a share, in line with estimates, Palm said.
Shares of Sunnyvale, Calif.-based Palm fell $1.68 to $13.85 in extended trading after the report. They had gained 58 cents to $15.53.
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