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.

About the author

Erica Ogg is a CNET News reporter who covers Apple, HP, Dell, and other PC makers, as well as the consumer electronics industry. She's also one of the hosts of CNET News' Daily Podcast. In her non-work life, she's a history geek, a loyal Dodgers fan, and a mac-and-cheese connoisseur.

 

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