Motorola Posts 3Q Profit

moto-logoMotorola 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.