Menu
Motorola Mobility bringing red ink to Google balance sheets

Motorola Mobility bringing red ink to Google balance sheets

Motorola's mobile phone unit shows a loss

Motorola Mobility, set to be acquired by Google, on Tuesday reported a 3 percent year-over-year increase in net revenue, to US$3.1 billion, for the first quarter of 2012, but suffered a net loss of $86 million.

The company's net loss was 6 percent greater than that of the first quarter of 2011. The company's mobile phone arm, its largest business, was its biggest source of losses, even though sales increased. Net revenue for mobile devices rose 3 percent year over year, to $2.2 billion, as the company shipped a total of 8.9 million mobile devices, including 5.1 million smartphones. The operating loss for the business, however, grew to $121 million from $89 million.

Motorola Mobility's balance sheet was weighed down in part by $17 million in merger-related costs. The company's acquisition by Google, announced last August, is expected to close in the first half of the year after receiving necessary regulatory approval in China.

Excluding one-time charges, Motorola's net loss for the quarter was $10 million, or $0.03 per share. Analysts polled by Thomson Reuters had forecast EPS of $0.01.

Motorola Mobility shares declined by $0.06 to $38.76 in after-hours trading.

Cameron Scott covers search, web services and privacy for The IDG News Service. Follow Cameron on Twitter at CScott_IDG.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Show Comments