Palm Reports Q3 FY 2010 Results

Palm today announced results for Q3 FY 2010.


“Our recent underperformance has been very disappointing, but the potential for Palm remains strong,” said Jon Rubinstein, Palm chairman and chief executive officer. “The work we’re doing to improve sales is having an impact, we’re making great progress on future products, and we’re looking forward to upcoming launches with new carrier partners. Most importantly, we have built a unique and highly differentiated platform in webOS, which will provide us with a considerable – and growing – advantage as we move forward.”

CTIA is scheduled for next week. If a product announcement is imminent, that would be the appropriate venue for an announcement.

Palm Reports Earnings for Q1 FY 2010

Palm today reported earnings for Q1 FY 2010. The company shipped a total of 823,000 smartphone units during the quarter, but it’s still unclear how many Palm Pre phones were shipped. Palm has scheduled a call with investors for 4:30 PM EST, so we might get more insight how many Palm Pre phones have been sold since the June launch.


We’re making significant progress with Palm’s transformation, and our culture of innovation is stronger than ever. We’re launching more great Palm webOS products with more carriers, and turning our sights toward growth,” said Jon Rubinstein, chairman and chief executive officer.

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Palm Pre Sales Slowing?

A new research note from analyst David Eller asserts that Palm Pre sales “continue to slow” and are “likely come in dramatically below Sprint’s sales target of 1 million to 1.5 million customers this year. Eller reduced his sales estimates for the August quarter from 488,000 to 418,000. He expects the company to ship 785,000 units by the end of November. Palm will announce earnings on September 17th and it’s likely they’ll provide units sold putting an end to analyst speculation and estimates.

Eller blames the shortfall on a weak retail spending environment coupled with the slow development of the companies App Catalog. Strong competition from the BlackBerry Tour and iPhone 3GS were also factors.

On a bright note, Eller believes Palm will release the Eos in November.

[via Barron’s]