Moto Ships 4.8M Smartphones Amid Q3 Losses
Motorola Mobility LLC reported a net loss of $32 million in its third quarter as the company waits to be acquired by Google (Nasdaq: GOOG).
The handset maker lost 11 cents per share on revenues of $3.3 billion. A year earlier, before the mobility division was spun off, Motorola reported a loss of $34 million, or 12 cents per share, on revenues of $3 billion.
Non-GAAP earnings per share were 12 cents. Analysts polled by FactSet expected a non-GAAP profit of 6 cents per share on revenue of $3.38 billion.
Mobile device revenues were up 20 percent from last year to $2.4 billion, but third-quarter launches like the Droid Bionic only boosted sales slightly. Moto shipped 11 million mobile devices for the quarter, including 4.8 million smartphones and 100,000 Xoom tablets.
The 4.8 million smartphones were up from the 3.8 million shipped in the previous year's third quarter. And, although the company issued its long-awaited Long Term Evolution (LTE) update to the Xoom in September, it sold 150,000 fewer of the tablets than it did the first quarter of this year. (See Verizon Launches LTE Droid Bionic on Sept. 8 and Moto Ships 250K Xooms But Waits on LTE.)
Moto also used its earnings release to talk up its upcoming device portfolio, including the newly announced RAZR LTE smartphone and the Atrix 2. (See Moto Needs the RAZR to Burn, Photos: Moto Gets Skinny With 4G RAZR and Moto Mobility Promises 5 LTE Devices for 2011.)
The company's home segment was down 10 percent from last year to $825 million.
Shares of Motorola were up 12 cents (0.3%) at $39.02 in early after-market trading. The company did not hold a conference call to discuss its results on Thursday, but is planning a special stockholder meeting on Nov. 17 to seek stockholder approval for the Google merger. (See Google at the Start of Moto's LTE Race.)
— Sarah Reedy, Senior Reporter, Light Reading Mobile