Motorola Mobility reports debut earnings loss

Summary:Despite a loss in its first quarter as a company, the chief executive of the newly formed Motorola spin-off remains hopeful for 2011

Motorola Mobility made its earnings debut with solid fourth quarter results, but projected a loss for the first quarter.

Motorola Mobility earnings

Motorola Mobility's chief Sanjay Jha says the company is "positioned to grow". Photo credit: Josh Miller/CNET News

The company, the wireless device half of what used to be Motorola, reported fourth quarter earnings of $80m (£50m), or 27 cents a share, on revenue of $3.4bn, up 21 percent from a year ago. Non-GAAP earnings were $108m, or 37 cents a share.

For 2010, Motorola Mobility reported a loss of 29 cents a share on revenue of $11.5bn. That tally is much better than 2009's loss of $4.56 a share.

Motorola Mobility chief executive Sanjay Jha had previously alluded to a rocky first quarter. In a statement, Jha said the company is "well positioned to grow, and further improve our financial results in 2011".

For more on this ZDNet UK-selected story, see Motorola Mobility sees first quarter loss ahead amid Verizon iPhone, Bionic arrival on ZDNet.com.

Topics: Tech Industry

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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