Motorola posts first-quarter profit and strong sales of smart phones
By APThursday, April 29, 2010
Motorola posts 1Q profit, strong smart phone sales
NEW YORK — Motorola says it posted an unexpected profit in the first quarter, as sales of its new phones outdid its own forecasts.
Motorola is trying to turn around a long series of losses in its cell phone unit by cutting costs and focusing on new smart phones including the Droid. It sold 2.3 million smart phones in the first three months of the year. It had said it expected to sell less than 2 million.
The Schaumburg, Ill., company earned $69 million, or 3 cents per share in the quarter. In the same quarter a year ago, it lost $231 million, or 13 cents per share.
Revenue fell 6.1 percent to $5.04 billion. Analysts polled by Thomson Reuters were expecting $5.1 billion in revenue.
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