Palm’s Q3 results worse than initially thought
A couple of weeks ago Palm revealed that while it had its strongest single quarter of phone sales ever it still ended up with a net loss in Q3 of $31.5 million.
Not bad enough? Palm revealed today that they had made a mistake before and not included a $25 million write-down for auction-rate securities which had fallen in value.
Yes, that means that technically Palm lost roughly $56.5 million.
How much more cash bleeding can Palm do until there’s nothing left?