Motorola Mobility turned in some red ink
based on a GAAP operating loss of $85 million for Q2. Last year, the company reported GAAP operating earnings of $85 million for the same period. Those figures work out to a 19 cent per share loss this year vs. a 27 cent per share profit last year. Net revenues rose 28% in the three month period to $3.3 billion as the company shipped 11 million mobile devices against 8.3 million shipped last year. Smartphone shipments rose to 4.4 million units
from 2.7 million in 2010. Motorola Mobility says that it had shipped 440,000 Motorola XOOM tablets in the period.
The second quarter results were lower than expected
and Motorola Mobility's stock was down 3.5% after hours. Motorola says it now expects to report profits as high as 10 cents a share for the third quarter, and 48 to 60 cents per share for the fiscal year. Motorola Mobility CEO Sanjay Jha said that Q3 will be hurt by the delay in launching the Motorola DROID Bionic
, the manufacturer's first LTE phone for Verizon. As we reported
, the long awaited Android handset will finally be released by Verizon in September.
source: Motorola via AP