Earnings alert: Motorola shares rise after profit beats estimates
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Oracle Corp., posted a gain in fiscal second-quarter earnings Monday that beat Wall Street forecasts. The report was released three days earlier than originally scheduled because the
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Motorola Inc  on Thursday posted a small third quarter profit from continuing operations and forecast another profit for the current quarter even as revenue fell from a year ago.
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(InfoWorld) - Two days after it restructured operations, MotorolaÂ on Thursday reported that flagging sales of mobile devices were a factor in its second-quarter loss of $28 million, or $0.01 per share. The telecommunications device maker posted income of $1.38 million, or $0.55 cents a share, one year earlier. Revenue declined by 19 percent to $8.73 billion from $10.82 billion one year earlier. The drop was expected: Motorola issuedÂ preliminary financialsÂ last week, warning that its results would be lower than had been forecast. The company said Thursday that excluding one-time costs, it would have earned $0.02 per share. Analysts surveyed by Thomson Financial, who revised estimates lower after last week's warning, were forecasting break-even results on sales of $8.64 billion. Layoffs and other one-time charges were responsible for losses amounting to $0.04 per share. But the loss for the quarter underscores the company's beleaguered mobile device business, which has been outflanked by rivals including Apple. The pressure will continue. Motorola announced that it expects earnings in the third quarter to be equal to or slightly higher than the second quarter, and that its mobile devices unit will probably not be profitable this year. The company saw a drop in mobile device sales in Asia, a hot market where vendors are trying to get a big share of the market in fast growing economies, as North American and European markets become saturated with mobile phones. Motorola has taken steps to address its problems. The vendor announced Tuesday that it's restructuring into three business divisions: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. It also has a new chief of its mobile unit, Stu Reed. Motorola CEO Ed Zander has beenÂ under pressureÂ to resign. He attracted criticism from big-name investor Carl Icahn earlier this year, and recently has been attacked by activist shareholder Eric Jackson for the way he's running the company. Although Motorola has taken steps to cut costs, a core challenge for the company is product design in the competitive handset arena. ItsÂ Razr deviceÂ was praised for its design, but in a fast-paced market quickly became an also-ran, under a barrage of products from rivals that in addition to Apple include Nokia, Samsung Electronics, and LG Electronics. Despite expecting mobile phone sales to be under increasing pressure, Motorola did say that it expected its overall financial results to improve during the second half of the year. Thursday morning, Motorola shares were trading at $18.18, up $0.18 from its opening. Â
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Molson Coors Brewing Co.   reported quarterly profit on Thursday that trounced analysts expectations, aided by higher pricing and volume growth, sending its shares up more than 6 percent.
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Motorola Inc  on Thursday  posted a small third quarter profit from continuing operations  and forecast another profit for the current quarter even as  revenue fell from a year ago.
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Motorola Inc., the world's No. 2 maker  of cell phones, on Tuesday said its quarterly profit more than  tripled, but growth in handset volumes disappointed Wall Street  and its shares fell 4.5 percent.
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U.S. stocks advanced on Tuesday as sharply higher oil prices lifted the energy sector and Motorola Inc.  shares jumped after investor Carl Icahn said he will seek a seat on the board.
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U.S. stocks rose on Monday as  investors bet signs of strength in the economy meant companies  will beat profit forecasts as the second-quarter earnings  season kicks off.
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Motorola Inc. , the No. 3 worldwide maker of cell phones, on Tuesday said quarterly earnings rose, helped by robust holiday sales.
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The latest monthly data has carriers' shares lifting higher.
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Plus: Qualcomm results show strong demand...eBay warns of weaker 2008 results...Motorola profit shrinks, phone forecast dims...Apple posts good Q1, despite slow iPod sales.
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Plus: Sun reports increased quarterly profit...SunPower profit drops, but outlook brightens...AT&T earnings up on wireless growth...Nokia earnings soar, market share solid...Qualcomm results show strong demand.
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Motorola Inc. , the No. 2  cellphone maker, on Wednesday posted second-quarter earnings  and revenue that beat Wall Street expectations due to strong  demand for its phones, including the Razr.
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ADC Telecommunications Inc.  posted a sharp increase in quarterly profit on Wednesday, beating expectations, and gave a forecast that topped current estimates, sending shares 3 percent higher.