Palm, a handheld device maker, on Thursday reported improved revenue and a lower-than-expected loss for the last three months than analysts had forecast.

The Milpitas, Calif.-based company turned in a loss of $21.7 million, or 74 cents per share, on revenue of $177.4 million for the first quarter of its fiscal 2004, ended Aug. 29. That compares with a loss of $258.7 million, or $8.93 per share, on revenue of $172.3 million in the same quarter a year earlier.

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