Motorola (MOT) has been an out-of-favor cell phone company since the heyday of the Razr in 2006. That year, Motorola was the second largest cell phone company in the world. Changes have come fast in the world of technology and so has the position of the companies within the cell phone industry. Fast forward 4 years later with its entrance into the Google (NASDAQ:GOOG) Android market, Motorola is now a big revenue catalyst on its hands once again to help catapult it from seventh place in the market. Here’s this quarter’s earnings breakdown:
Earnings: Increased to $.05 per share, or $109 million, this quarter. Last year in the same quarter, Motorola only earned $12 million, or $.01 per share.
Revenue: Climbed 6% to $5.8 billion over last year’s $5.4 billion in the same quarter.
Actual Versus Wall Street Expectations: Excluding item charges, Motorola would have delivered $.16 per share, better than analyst expectations of $.11 per share. Analysts were also expecting $5.65 billion in revenue. Motorola clearly surpassed revenue expectations.
Notable Stats:
- Mobile Devices sales were $2.0 billion, up 20% over the same quarter a year ago.
- The company increased its cash position to $9 billion.
- Smart-phone shipments were 3.8 million units, higher than analysts’ expectations for 3.7 million.
- Motorola issued a positive outlook for the fourth quarter, expecting earnings from continuing operations of $0.14 to $0.16 per share.
Did You Hear That?
Sanjay Jha, Motorola co-chief executive officer and Motorola Mobility CEO, stated:
We have added 12 devices to our smartphone portfolio, all of which will be in stores for the holiday season. This brings the number of smartphones we have introduced this year to 22. In North America, DROID X continues to sell extremely well. DROID 2, which features an improved keyboard and faster processor compared to the original DROID also sold well
