Motorola 1Q loss widens, but beats forecast

Motorola 1Q loss widens, but beats forecast
AP
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First Published: Thu, Apr 30 2009. 05 17 PM IST
Updated: Thu, Apr 30 2009. 05 17 PM IST
New York: Motorola’s first-quarter loss is smaller than analysts were expecting, and it regained its position as the world’s fourth-largest maker of cell phones.
The Schaumburg, Illinois-based company says it lost $231 million, or 10 cents per share, wider than the loss of $194 million, or 9 cents per share, for the same quarter last year.
Excluding charges of 5 cents per share, Motorola had a loss from continuing operations of 8 cents per share. Analysts were expecting a loss of 11 cents per share, excluding items.
Motorola Inc.’s sales were $5.4 billion, down 28% from $7.5 billion a year ago. Analysts were looking for $5.6 billion.
Motorola sold 14.7 million handsets, beating Sony Ericsson’s sales for the quarter.
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First Published: Thu, Apr 30 2009. 05 17 PM IST