“Motorola Inc. on Tuesday said third-quarter net profit more than tripled, as the technology bellwether benefited from higher wireless-phone sales, a onetime tax benefit and the sale of an investment,” Jeffry Bartash reports for Dow Jones. “The Schaumburg, Ill.-based company, the world’s second-largest seller of wireless phones, posted a net profit of $1.75 billion, or 69 cents a share. That was up sharply from $479 million, or 20 cents, a year earlier. Sales climbed 26% to $9.42 billion from $7.5 billion, as the company shipped a record 38.7 million handsets. Wall Street was expecting shipments of around 35 million to 36 million. Excluding onetime items, Motorola (MOT) earned 30 cents a share. That beat the 28-cent consensus of analysts surveyed by Thomson First Call.”
Bartash reports, “Looking ahead, Motorola predicted fourth-quarter sales of between $10.3 billion to $10.5 billion, with profit from operations of 32 cents to 34 cents a share. Analysts were expecting a profit of 33 cents a share… Motorola’s popular RAZR, the thinnest phone in the industry, has been a huge hit. The company said it’s the biggest selling phone in the world with a foldout “clamshell” design. Motorola sold 6.5 million units in the third quarter, and it’s sold more than 12 million units overall… The company has also started selling a phone [ROKR] based on Apple Computer Inc.’s (AAPL) popular iTunes music player, though the model was released late in the quarter and analyst doubt it had much impact on sales. The company did not disclose sales of those phones.”
Full article here.
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