Palm revenue drops by 44%

Palm has reported revenue of $290.6m (£144m) for its fiscal second quarter of 2002, down 44% from the same period last year.

Palm has reported revenue of $290.6m (£144m) for its fiscal second quarter of 2002, down 44% from the same period last year.

The handheld device and operating system company edged past analyst expectations for the quarter, reporting a pro forma net loss of $36.6m (£25.3m), excluding extraordinary items.

The figures are slightly above Palm's November estimate that revenue would be between $250m and $280m. The company also announced at the time that it would lay off 250 employees.

The second quarter revenue also represented a sequential gain of 36%, from $214.3m (£148.2m) in the preceding quarter, the fiscal first quarter of 2002.

Prior to the announcement, Palm's stock gained $0.13 to close at $3.32 on 19 December.

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