Monday, December 01, 2008

Palm warns on 2Q revenue, shares drop aftermarket - Boston.com

Uh oh…

Palm Inc. said late Monday it expects revenue for its fiscal second quarter to come in below Wall Street expectations and plans to cut quarterly expenses by $20 million.

The maker of the Treo smart phone forecast revenue of $190 million to $195 million, compared with analyst estimates of $330.8 million, according to Thomson Reuters.

That would mean a revenue decline of at least 46 percent from first-quarter revenue of $366.90 million and about a 44 percent decline from the same period a year ago when revenue came in at $349.63.

Palm warns on 2Q revenue, shares drop aftermarket - Boston.com

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