Motorola Posts 3Q Profit
Hopefully the new Droid smartphone will give Motorola's mobile phone division another boost.
Motorola is reporting an unexpected profit for the third quarter as operating losses in its struggling mobile phone division narrowed.
Its shares are jumping more than 5 percent in premarket trading.
The company based in Schaumburg, Illinois, said it earned $12 million, or a penny per share, in the three months ended Oct. 2. It lost $397 million, or 18 cents per share, in the period a year ago.
Excluding unusual items, Motorola says its adjusted earnings were 2 cents per share. Analysts had expected a break-even quarter.
Motorola Inc. says its sales fell 27 percent to $5.4 billion. Analysts were looking for $5.5 billion.
It also says Edward Fitzpatrick, the company’s acting chief financial officer, has been named permanent CFO.
