Latest in Breaking news

Image credit:

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

Chris Ziegler
12.17.09
Share
Tweet
Share
Save

Sponsored Links

We don't know just how quickly Palm (or Elevation Partners, for that matter) thought it'd become profitable following the release of 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 to an $85.4M one this time around. On a non-GAAP gross basis, they actually made $5.5M, which is up from $2.8M a quarter earlier. 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 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.

Update 2: They've sold 784,000 phones in the quarter, which compares to 823,000 in the last -- a 5 percent drop. That's up 41 percent from the same quarter a year ago... but yeah, of course it's going to be way up from the pre-webOS days.

Update 3: Over 800 apps in the catalog so far, once they graduate from the Early Access Program exclusivity, Palm foresees a "flood" of apps. No plans right now to change SDK strategy to a more native development environment.

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

'Rainbow Six: Siege' adds a 'Fortnite' style Battle Pass

'Rainbow Six: Siege' adds a 'Fortnite' style Battle Pass

View
Three UK rolls out 5G home internet access in London

Three UK rolls out 5G home internet access in London

View
Sonos' portable smart speaker leaks in greater detail

Sonos' portable smart speaker leaks in greater detail

View
Kevin Smith is making a 'He-Man' anime series for Netflix

Kevin Smith is making a 'He-Man' anime series for Netflix

View
SpaceX Starman Roadster completes its first orbit around the Sun

SpaceX Starman Roadster completes its first orbit around the Sun

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr