Motorola Mobility Holdings Inc. Earnings: Loss Widens but Still Faring Better than Street Forecasts
S&P 500 (NYSE:SPY) component Motorola Mobility Holdings Inc. (NYSE:MMI) reported its results for the first quarter. Motorola Mobility develops innovative technologies, products, and services, including mobile and wireline technology, digital communication, information, and entertainment experiences.
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Motorola Mobility Holdings Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $86 million (28 cents per diluted share) from $81 million (loss of 27 cents per share) in the same quarter a year earlier.
Revenue: Rose 1.5% to $3.08 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Motorola Mobility Holdings Inc. fell short of the mean analyst estimate of a loss of 18 cents per share. It beat the average revenue estimate of $2.96 billion.
The company has fallen short of estimates for two consecutive quarters. In the fourth quarter of the last fiscal year, it missed expectations by one cent with net income of 8 cents versus a mean estimate of net income of 9 cents per share.
Looking Forward: Analysts seem more positive about the company’s results for the next quarter than a month ago. The average estimate for the second quarter has moved from a loss of 11 cents a share to a loss of 7 cents over the last thirty days. For the fiscal year, the average estimate has moved up from a loss of 9 cents a share to a profit of 2 cents over the last thirty days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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