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Business Briefing / Earnings

Palm loss is less than anticipated

September 18, 2009|Times Wire Reports

Smart-phone maker Palm Inc. posted a wider fiscal first-quarter loss as revenue tumbled. Adjusted results beat Wall Street's forecast as the company shipped more of its Pre devices than expected.

For the period ended Aug. 28, Sunnyvale, Calif.-based Palm had a loss of $161.1 million, or $1.17 a share, compared with a loss of $39.5 million, or 39 cents, a year earlier.

Excluding one-time items, however, the loss was 10 cents a share. Analysts had forecast a loss of 24 cents.

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