Palm Reports Losses Again

For some 7 is a lucky number. For some others, like Palm, it is a painful number! They have reported losses for the 7th consecutive quarter. Their net loss of $95 million or 89 cents a share fell well below estimates by analysts for the 3rd quarter of 2008.

Palm can only hope that their Palm Pre, to be launched soon, will rise to the occasion and offer much needed relief from their balance sheet woes. For now, the Pre does look set to do just that, fingers crossed. Some stiff competition may, however, come from rival Apple with their expected release of their next generation of iPhones. Will Apple spoil Palm’s spring/summer party?