Latest in Breaking news

Image credit:

Palm announces first quarter results: $164.5m net loss, 823k phones sold

Nilay Patel
09.17.09
Share
Tweet
Share
Save

Sponsored Links

Palm just announced its first quarter results -- the first to really include numbers from the Pre -- and they're positive (well, depending on how you look at things), with a $2.8m gross profit on $68m in revenue. Actually, that's a little low, since Palm uses the same sort of subscription accounting for the Pre as Apple does for the iPhone, so the unofficial numbers are higher: $100.6m gross profit on $360.7m in revenue. Still, we should point out that according to GAAP (you know, the rules that matter), the outfit had a net loss in fiscal Q1 2010 of $164.5 million, while the non-GAAP net loss was pegged at $13.6 million. Although Palm wouldn't include break out specific sales data, they did say that the "vast majority" of the 823,000 phones they sold in Q1 were Pres, so take that as you will. Oh, and if you were still holding out hope for more Palm WinMo phones, it's all over -- Palm is doing 100 percent webOS development from now on. (Shocker!).

Update 1: Rubinstein deftly sidestepped the question of why Pixi was launched on Sprint as opposed to another carrier, saying "They're a great partner and we're looking forward to a great holiday season."

Update 2: Asked about MOTOBLUR, Jon said "I don't know much about MOTOBLUR, but I think to build really great products, you have to control the entire experience -- you have to own the OS and the services around it."

Update 3: Jon just said "We're on a web schedule with updates -- you'll see a steady stream of updates and features."

Update 4: Revenue on accessories and anciliary products were "really very small, immaterial to overall trends." When pressed if it was in the low, single-digit millions, CFO Doug Jeffries emphasized, "very, very small."

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

Nintendo says there is no Switch exchange program

Nintendo says there is no Switch exchange program

View
IKEA creates a business unit devoted to smart home tech

IKEA creates a business unit devoted to smart home tech

View
US will reportedly give Huawei another temporary reprieve

US will reportedly give Huawei another temporary reprieve

View
The next Apple Watch may come in titanium and ceramic models

The next Apple Watch may come in titanium and ceramic models

View
Behind the wheel of VW’s electric dune buggy prototype

Behind the wheel of VW’s electric dune buggy prototype

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr