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Motorola post profit even as revenue falls

Motorola post profit even as revenue falls
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First Published: Thu, Jul 30 2009. 04 50 PM IST
Updated: Thu, Jul 30 2009. 04 50 PM IST
New York: Motorola Inc posted a quarterly profit versus a year-earlier loss as it cut costs and shipped more cellphones than expected, although revenue fell short of Wall Street estimates.
Motorola posted a profit of $26 million, or 1 cents per share compared with a loss of $231 million or 10 cents a share in the same quarter a year earlier.
But revenue fell 32% to $5.5 billion, compared with analysts’ average expectation for revenue of $5.62 billion, according to Reuters Estimates.
The company, which trails behind cellphone rivals such as Nokia and Samsung Electronics, shipped 14.8 million phones in the quarter compared with 28 million phones a year earlier.
The average Wall Street expectation was for 14.1 million phones, according to five analysts contacted by Reuters.
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First Published: Thu, Jul 30 2009. 04 50 PM IST