Reuters reports:
NEW YORK (Reuters) - Palm Inc (PALM.O) reported stronger-than-expected revenue following its disappointing pre-announcement last month, and shares of the smartphone maker rose 1 percent after a strong run-up during the regular session.
The company reported a net loss attributable to common stockholders of $22 million, or 13 cents a share, in the fiscal third quarter ended February 26, versus a year-ago loss of $98 million, or 89 cents a share.
Excluding items, the company's loss was 61 cents a share, a bigger loss than the average analyst estimate of a loss of 42 cents a share, according to Thomson Reuters I/B/E/S.
Revenue came in at $349.9 million, and non-GAAP revenue totaled $366 million, well above Wall Street's average estimate of $316.2 million.
The company shipped a total of 960,000 smartphones during the quarter, with sell-through of 408,000 units.
Shares of Sunnyvale, California-based Palm rose 5 percent to close at $5.65 on the Nasdaq and rose to $5.75 in extended trading.
