Palm Loss Is Wider Than Estimated as BlackBerry Gains
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Palm Inc. reported a wider fourth-quarter loss than analysts estimated after the Treo e-mail phone ceded sales to Research In Motion Ltd.'s BlackBerry. The shares fell 3.4 percent.
The loss was $43.4 million, or 40 cents a share, compared with a profit of $15.4 million, or 15 cents, a year earlier, Palm said today. Excluding stock-based compensation expenses, the loss was 22 cents a share, compared with the 18 cents estimated by analysts. Sales also missed projections.