Palm Inc. posted a wider-than-expected loss for the fiscal second quarter ending Nov 30, attributing the loss to declining sales of smart phones.
After paying preferred dividends, Palm reported losses of $85.4 million, or 54 cents per share. Revenue sunk 59 percent to $78.1 million from $191.6 million a year ago.
Palm shares fell 27 cents, or 2.3 percent, to $11.50 in after-hours trading.
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