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Updated Saturday, March 20, 2010 3:54 pm TWN, Bloomberg

Palm forecast trails analysts' estimates; shares plunge 15 percent in late trading

NEW YORK -- Palm Inc. forecast sales that trailed analysts' estimates as its phones fail to match the popularity of rival models running on Google Inc.'s Android software. The shares fell as much as 15 percent in late trading. Revenue in the quarter ending in May will be less than US$150 million, Chief Financial Officer Doug Jeffries said Thursday on Palm's third-quarter conference call. Analysts in a Bloomberg survey had estimated US$300 million on average. The company also reported its 11th straight quarterly loss.

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Palm forecast trails analysts' estimates; shares plunge 15 percent in late trading

In this March 8 file photo, a customer uses a Palm Pre Plus at Best Buy in Mountain View, Calif. Palm Inc. reports quarterly financial results Thursday. (AP)

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