Business

Motorola Mobility 3Q net loss narrows

Posted October 27, 2011 12:00 am

Associated Press

Motorola Mobility, which makes cellphones and cable set-top boxes, says its third-quarter loss narrowed as it shipped more phones than it did a year earlier.

Motorola Mobility Holdings Inc. reported a net loss of $32 million, or 11 cents per share. This compares with a loss of $34 million a year ago, when the company was still part of Motorola Inc. That company split into two January.

Excluding one-time items, the company earned 12 cents per share. This is double what analysts polled by FactSet expected.

Revenue rose 11 percent to $3.3 billion, slightly lower than analyst estimates. The company shipped 11.6 million phones during the quarter, 4.8 million of them smartphones. It shipped 9.1 million phones, including 3.8 million smartphones, a year ago.

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