Motorola Mobility Drops into Quarterly Loss on Weak Handset Division
Published on: 29th Jul 2011
Note -- this news article is more than a year old.
Motorola Mobility has reported that its second quarter revenues rose by 28% to USD3.3 billion, but the company also dropped into a net loss of USD56 million, compared to a profit of USD80 million a year ago.
The loss was due to a drop in profit at the handset division, which had an operating loss of USD85 million, compared to an operating profit of US$62 million at its home electronics division.
During the three months, the company shipped 11.0 million mobile devices, including 4.4 million smartphones and 440,000 tablets.
Total cash at the end of the quarter was $3.2 billion and includes cash, cash equivalents and cash deposits, and operating cash flow was breakeven for the quarter.