Palm Losses Hit $85.4 Million For The Quarter…Hey It’s An Improvement

Normally we wouldn’t call an $85.4 Million GAAP quarterly loss a big win, but considering last quarter Palm showed a loss of $164.5 million, it’s actually a vastly different atmosphere for the company as they get ready to launch new WebOS devices and work on creating more apps for their WebOS market.

Remove the companies GAAP net losses and they have $590 million in cash and “short-term investments” on hand, which should help them stay afloat without a further need for a cash infusion. With any luck Palm will be out of the red before the end of 2010.

Palm’s main goal according to Engadget is too expand their user base by bringing their devices to more carriers and ultimately a larger geographical area. In this past quarter Palm sold 784,000 units, down five percent from last quarter, but still a markedly better number of units than before the Palm Pre debuted.

Palm also expects their apps store to soar from the 800 apps mark it currently sits at to thousands of programs once they move away from their Early Access Program which has offered exclusivity to only a handful of top developers.