Motorola Mobility Holdings, Inc. (MMI) today reported net revenues of $3.4 billion in the fourth quarter of 2010, up 21 percent from the fourth quarter of 2009. The GAAP earnings in the fourth quarter of 2010 were $80 million, or .27 per share, compared to a loss of $204 million, or .69 per share, in the fourth quarter of 2009. On a non-GAAP basis, earnings in the fourth quarter of 2010 were $108 million, or .37 per share, compared to a loss of $70 million, or .24 per share, in the fourth quarter of 2009.
The Company’s outlook for the first quarter of 2011 is for a net loss of $26 million – $62 million, net loss per share of $0.09 – $0.21.
Sinead Carew reports for Reuters, “[MMI] shares fell almost 4 percent after it warned it would revert to a loss again in the current quarter, as it faces new competition from the Apple Inc. iPhone.”
“Motorola said it shipped 11.3 million phones in the quarter, including 4.9 million smartphones,” Carew reports. “The average estimate was for sales of 5.2 million smartphones and total shipments of 10.7 million, according to six analysts contacted by Reuters.”
Full article here.
MacDailyNews Take: Bloodbath.
