Palm releases earnings, no takeover announcement
Palm announced its third-quarter earnings Thursday, without any mention of a takeover by another company.
Financial analysts and bloggers alike were abuzz the past week with reports that a sale to Nokia, Motorola or a private equity firm was imminent. The tech blog Unstrung reported that Morgan Stanley was purportedly orchestrating a deal that it hoped to close by Thursday.
Palm reported revenue of $410.5 million in the third quarter of fiscal 2007. That compares with $388.5 million for the same period a year ago. The company reported earnings of $11.8 million, or 11 cents a share, compared with $29.9 million, or 28 cents, for the same period a year ago. Palm sold 738,000 smart-phone units in the quarter, a record for the company.