Motorola posts another tiny quarterly profit, phone division not yet pulling its weight (update)
Posted in: earnings, financial, moto, motorola, Today's Chili
Moto’s earnings for the first quarter came out today, and they pretty much echo what the company managed to do in the fourth quarter of 2009 — pull a small profit thanks to performance from the Home, Enterprise Mobility, and Network groups in the face of an operating loss from the Mobile Devices (read: phones) division. Unfortunately, all of the numbers are just a little bit worse across the board; Motorola didn’t have any Droid-style blockbuster launches or major gift-giving holidays to help it along this quarter, and ended up dropping $192 million in the hole compared to $132 million in the quarter prior. Co-CEO Sanjay Jha still seems upbeat, though — and he’d better, considering that he’ll lead the spun-off phone division after the breakup — pointing out that shipments actually increased in the quarter with the release of six new handsets. When you throw all the numbers together, the combined company posted $69 million in earnings, down from $142 million in the fourth quarter; hey, that’s still better than a loss, especially considering that it’s estimating considerably higher earnings in the current quarter. Follow the break for Motorola’s release.
Update: Despite the slight profit, poor phone sales may have finally cost Motorola the stateside mobile crown. The Associated Press is reporting that with 8.8 million iPhones sold in Q1, Apple has edged out Motorola as the largest phone maker in the US.
Motorola posts another tiny quarterly profit, phone division not yet pulling its weight (update) originally appeared on Engadget on Thu, 29 Apr 2010 12:46:00 EST. Please see our terms for use of feeds.
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