Mobile device maker Palm warns that its revenue for the current quarter will fall far below analyst estimates and reports a net loss of $22 million, or 13 cents a share, for its third fiscal quarter. Palm executives say fourth-quarter revenue will be less than $150 million as a result of slow sales of the company’s smartphone models.
– NEW YORK (Reuters) Palm Inc. warned that revenue for the current quarter
would be far below Wall Street’s expectations, after tepid demand for its
smartphones left wireless carriers with piles of excess inventory.
The company’s shares fell 14 percent in after-hours trade on Thursday.
Palm’s stoc…