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View Full Version : Palm loses $85.4 million in latest reported quarter -- hey, it's an improvement



allaboutsymbian
December 17th, 2009, 23:05
http://www.blogcdn.com/www.engadget.com/media/2009/03/1-4-09-palm-logo.jpg (http://www.engadget.com/media/2009/03/1-4-09-palm-logo.jpg)We don't know just how quickly Palm (or Elevation Partners, for that matter) thought it'd become profitable following the release of webOS (http://www.engadget.com/tag/webOS/), but it's not there quite yet -- the company is in the process of outing its earnings for the second quarter of fiscal year 2010 right now, and in a word, they're still in the red. The good news is that it's a marked improvement from last quarter -- they've gone from a $164.5M GAAP net loss (http://www.engadget.com/2009/09/17/palm-announces-first-quarter-results-2-8m-profit-on-68m-reven/) to an $85.4M one this time around. They've got $590 million in cash and other "short-term investments" on the book right now, which seems like it should be enough to keep the company going without a profit or additional cash infusion for at least a few additional quarters, but then again, burn rate is going to vary with just how much hardware and software R&D they're doing and the kinds of carrier deals they're scoring. We bet they're looking forward to this Verizon business (http://www.engadget.com/tag/palm,verizon) going down, eh?

Update: Palm's specifically saying that they're looking to grow carrier and geographic coverage right now -- a good plan, if we say so ourselves.
Palm loses $85.4 million in latest reported quarter -- hey, it's an improvement (http://www.engadget.com/2009/12/17/palm-loses-85-4-million-in-latest-reported-quarter-hey-its/) originally appeared on Engadget (http://www.engadget.com) on Thu, 17 Dec 2009 16:55:00 EST. Please see our terms for use of feeds (http://www.weblogsinc.com/feed-terms/).


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