I just bought a brand new P3S today. Upgraded firmware and now compass will not calibrate. Fought with it all afternoon. Done with it and it's going back to Target tomorrow. I wish there was a comparable bird (price wise) that I could get instead. Sorry, I am just beyond frustrated at this point.

What exactly happens when you try to calibrate the compass?

The solid red banner up top says Lost Signal. When I attempt to calibrate it will pass step 1 successfully with green lights, but when pointing the bird toward the ground for step 2 all I get is red/yellow flashing lights. I can control the gimbal by swiping up and down on my screen but the gimbal wheel does nothing. I performed an IMU calibration successfully before I attempted all the rest.

Hello Chadrob, please make sure you upgraded both remote controller and aircraft successfully. You could check it on "About" page through APP.
Then please change another open place without interference around, such as buildings , wires, or WiFi internet signal. When calibrating compass, please raise aircraft above your head.
Still same, please send an screen shot of error message, thanks.