Palm Blows Another Quarter

Has-been smartphone maker Palm is having some luck selling its cheap, tiny Centro smartphone at Sprint (S) and AT&T (T): It helped the company sell a record 833,000 phones last quarter, up 13% year-over-year.

But business still stinks: The company swung to a loss and missed the Street’s sales and EPS projections. Palm (PALM) shares are down 6% in after-hours trading — at $4.45, they’re just 20 cents above their 52-week low.

Palm (PALM) posted $312.1 million of sales, down 24% year-over-year and missing the Street’s $315.3 million consensus. Adjusted EPS came in at a 16 cents per share loss, below the Street’s expected 15 cents per share loss. And the company reported a $31.5 million net loss, a huge drop from its $11.8 million Q3 profit a year ago.

See Also: Palm: Buy A Centro, Sell The Stock

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