Palm Pre may help the company turn cash flow positive (PALM)

Posted in General 
June 26th, 2009

Palm (PALM) shares are up nearly 14% in strong premarket trading after the company beat earnings expectations by $0.22 a share, on the back of its recently introduced Pre smartphone. Few Pre metrics were given, but it was clear the Pre helped boost overall smartphone demand. The company said it’s ramping Pre supply, and says the number of developers writing for the platform will increase dramatically in coming weeks. In a conference call after the report, Palm said it may be able to turn cash flow positive in the second half of 2010. Also, the company says it has no plans of raising additional capital. — Mike Tarsala.

Comments are closed

-->