Palm Inc. barely surpassed Wall Street estimates for its second fiscal quarter of 2001, ending Dec. 1, 2000. The manufacturer of handheld computing devices posted revenue of $522.2 million, a 102 percent hike from the same quarter last year. Actual net income rose to $20.3 million and 4 cents per share, compared with $12.9 million and 2 cents per share in the second quarter of 2000.

Palm shipped more than 2.1 million handheld devices in the quarter, but many retail analysts predict electronics sales troubles ahead. Stores are trying to get rid of as much inventory as possible in the wake of a government report earlier this month that shows U.S. consumer spending dropped 0.4 percent in November, normally a big month for holiday shopping. Consumer electronics was one of the sectors hit the hardest.

Previous Stories:
Palm Pushes Wireless At COMDEX 11/14/00