Motorola Posts Strong Revenue Gain
Motorola Posts Strong Revenue GainMotorola Posts Strong Revenue Gain
By Scott Moritz
Senior Writer
Motorola (MOT:NYSE - news - research) swung to a loss in its latest quarter after a charge related to its chip-business spinoff.
But the company's shares rose 3% in after-hours trading as investors were reassured by a strong revenue gain and a rise in top-line guidance. Motorola also said it would change leadership in its key wireless phone unit, after the unit posted a solid rise in handset sales.
For its second quarter ended June 30, the Schaumburg, Ill., tech shop posted a loss of $203 million, or 9 cents a share, on revenue of $8.7 billion. That reverses the year-ago gain-aided profit of $119 million, or a nickel a share. Year-ago sales were $6.16 billion.
Analysts surveyed by Thomson First Call had forecast an 18-cent-a-share operating profit on sales of $8.49 billion. The latest quarter, however, included a charge of $898 million, or 38 cents a share, related to establishing a deferred tax asset valuation reserve stemming from the initial public offering of the company's Freescale Semiconductor (FSL:NYSE - news - research) unit. The latest period also included various other charges and gains that appear to roughly offset one another.
0 Comments:
Post a Comment
<< Home