Palm Guides Sales Lower
On average, analysts polled by Thomson First Call had estimated that the company would earn 19 cents a share excluding costs on $382.9 million in sales in the period.
However, analysts had much higher expectations for the quarter back in June before the company's original guidance for the period disabused them of their notions. At the time of the company's last earnings report, they were calling for a pro forma profit of 22 cents a share on $413.4 million in sales.
Shares of Palm closed regular trading up 58 cents, or 3.9%, to $15.53.
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