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PALM: As anticipated, they are finding it tough and marketing spend will have to be ramped up

18/12/2009 · Palm Inc (PALM:NSQ) 

The 2nd quarter earnings announcement from Palm was clearly disappointing and hardly supportive of the lofty valuation assigned to the business

Palm posted non-GAAP revenue of $302m, beating the Street at $266.2m and ahead of guidance – discount drive? The company shipped 783,000 smartphones in the quarter, down 5% from Q1, but up 41% from a year ago. Sell-through in the quarter was 573,000 units, down 29% from Q1, and off 4% year over year. The company posted a non-GAAP loss for the quarter of 37 cents a share, five cents worse than expected.

Sales on…

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