Palm announces Q1 2010 results

By on Sep 17, 2009 at 6:17 PM
News September 17, 2009

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Palm today announced its Q1 results for the fiscal year 2010. The struggling handset maker moved 823,000 devices in Q1, the bulk of which Palm claims to have been Pre handsets. Unbelievably, the company still managed to avoid giving any firm numbers with regards to Pre sales, meaning it’s now extremely safe to say they fell well short of meeting expectations. Total revenue was $68mm compared to $368mm in Q1 2009, and gross profit was $2.8mm in the red. It gets worse, unfortunately. You see, accountants have this thing called GAAP, and it does a much better job of showing the financial health of a company compared to other methods. When you apply GAAP to Palm’s Q1, you’re left with a net loss of $164.5mm compared to the $41.9mm loss posted in Q1 of 2009. Long story short: we’re not out of the woods just yet, Palm fans.

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  • Julian

    And it only gets worse from here. From now on, Palm not only will have to fight against Apple, but with the avalanche of Android phones that are coming. At this point Palm needs a miracle.

  • Trevsx1000

    Palm dug themselves a deeper hole buy only letting Sprint sell the Pre and also the upcoming Pixi. Shoulda let Verizon in on it and they woulda been doing a lot better than they are now!

  • kjb

    @ perspective

    The reason why is because you can’t expect sales numbers and revenues to be massive in one quarter on one carrier, a carrier which appears to be losing a considerable amount of customers and profit themselves. It will be released in one month in Europe on GSM in a few countries which hold a lot of subscribers, and here in Canada we released it on Bell not even a month ago.

    No one seems to give Palm a chance. Everything will be fine. It’s a first gen device that’s been out since June, just barely passed the 3 month mark.

    Honestly, comparing the pre CDMA vs iphone GSM is apples to oranges.

  • stee

    if they wouldn’t have cut such a long exclusivity period with sprint and let verizon get it sooner things would be better. watch when the pre is released in Q1 to verizon..

  • matt

    I love how when everyone talks about Palm and Sprint it’s always “coulda woulda shoulda”! They both suck, face it. Sure, any company could have been successful if you add in all of your “if’s” but you can’t do that. They BOTH continuously release horrible financial results which should be all the proof anyone would need but yet, we still have those throwing the “if’s” out there!

  • Mace

    Don’t forget global number 1, Nokia. The best thing that could happen to Palm would be actually be bought by Nokia. Palm doesn’t have a chance to survive on their own. Although Nokia has now already their new Maemo OS, which is at least as good as WebOS, so I don’t know if they would need Palm for anything else than to get some needed market share in US. Maemo, Android and the new Symbian will kill WebOS within a year and Palm is too small to fight back.

  • http://N/A apl4lyfe

    This whole last ditch effort is poor showing for what was once a premier smart phone provider. Keeping the palm pre exclusively for sprint was a poor marketing move and Sprint has long been on its way to the grave

  • Tron

    Pre + Sprint = KanYe saying “Yo, SprintPreFag, I know your happy, I’m going to let you finish, but IPHONE IS THE GREATEST PHONE OF ALL TIME!”.

    Sprint and Palm just bombed.

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