Motorola Mobility reports debut earnings loss

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

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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.

Topic: Tech Industry

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