Motorola Pulls Off Earnings Upset
August 3, 2008
After a series of losses in the past year or so, Motorola has been pretty much down for the count as of late. But surprises do happen, and this week’s surprise announcement was as follows:
Motorola: Made $4 million in Q2 and lovin’ it.
Motorola actually made money. Okay, so $4 million dollars isn’t a whole lot of profit. But considering Wall Street analysts were expecting losses of over $30 mil, I’d say that’s quite the surprise. Unfortunately, the company’s still not out of the hole, and its cell phone business wasn’t exactly churning out hits in Q2 (actually, the division managed to lose $346 million).
Some of the highlights:
- 28.1 million cell phones shipped – well, more than last year (27 million shipped)
- Market share fell to 9.4%, putting it in third-place (LG is in fourth, wtih 9.1% share)
- Loss of $346 million for the quarter in handset division
- 50 new phone models to release by the end of the year – more smartphones with full keyboards coming
- Handset business will be spun off by Q3 2009
