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Palm reports loss for 7th consecutive quarter

Palm has announced losses which fell short of analysts’ estimates for Q3 of 08, the net loss increased to 89 cents per share or $95 million from 53 cents per share or $54.7 million on the previous year.

If you exclude costs for stock based compensation and the like, the loss of 86c per share missed analysts estimates of an average 57c, which can’t be good considering Palm has reported losses for seven consecutive quarters.

Obviously Palm is placing all their hopes on turning things around with the launch of their new Palm Pre smartphone. But will the Palm Pre actually be Palm’s saviour or will that too fall way short of expectations?

Source — nytimes