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Motorola Mobility Quarterly Loss Widens Despite Higher Revenues
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Motorola Mobility -- which is on the verge of being bought by Google -- has reported a slight rise of 2 percent in its first-quarter revenues of US$3.1 billion.
The net loss widened also slightly, to US$86 million from US$81 million a year ago. The company had operating cash outflow of $98 million in the first quarter. Total cash at the end of the quarter was $3.5 billion and includes cash, cash equivalents, and cash deposits.
"The introduction of RAZR MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones. Our Home business delivered another solid quarter highlighted by improvement in year-over-year profitability," said Sanjay Jha, chairman and chief executive officer, Motorola Mobility. "We continue to work closely with Google to complete the proposed merger during the first half of the year."
Mobile Devices net revenues in the first quarter were $2.2 billion, up 3 percent compared with the year-ago quarter. The operating loss was $121 million compared to an operating loss of $89 million in the year-ago quarter.
The company shipped a total of 8.9 million mobile devices in the first quarter, including 5.1 million smartphones.
Home segment net revenues in the first quarter were $884 million, down 2 percent compared with the year-ago quarter.
Tags: [motorola mobility] [USA]
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