Motorola Mobility Earnings Cheat Sheet: Beats Estimates, Shares Pop
S&P 500 (NYSE:SPY) component Motorola Mobility Holdings, Inc. (NYSE:MMI) reported its results for the first quarter. Motorola Mobility Holdings, Inc. develops innovative technologies, products and services, including mobile and wireline technology, digital communication, information and entertainment experiences.
Motorola Mobility Holdings Earnings Cheat Sheet for the First Quarter
Results: The company posted a loss of $81 million or 27 cents per diluted share, narrower than a loss of $212 million or 72 cents per share a year earlier.
Actual vs. Wall St. Expectations: MMI reported adjusted net income of a loss of 8 cents per share. By this measure, the company beat the mean analyst estimate of a loss of 12 cents/share. Estimates ranged from a loss of 19 cents per share to a profit of 2 cents per share.
Quoting Management: “In the first quarter, we reached a major milestone in our history by becoming a new independent, public company. We enhanced our product portfolio by delivering compelling experiences with the launch of Motorola ATRIX™ and Motorola XOOM™, as well as offering unique end-to-end video solutions for the home,” said Sanjay Jha, chairman and chief executive officer, Motorola Mobility. “With a well-recognized brand, a strong balance sheet and industry leading intellectual property, we have the right assets to deliver an exciting pipeline of products, continue to grow our business and further improve our financial results.”
Competitors to Watch: Research In Motion Ltd. (NASDAQ:RIMM), Nokia Corporation (NYSE:NOK), Cisco Systems, Inc. (NASDAQ:CSCO), Motorola Solutions Inc (NYSE:MSI), Arris Group, Inc. (NASDAQ:ARRS), Harmonic Inc. (NASDAQ:HLIT), Cobra Electronics Corp. (NASDAQ:COBR), Blonder Tongue Labs, Inc. (AMEX:BDR), BigBand Networks, Inc. (NASDAQ:BBND), Apple (NASDAQ:AAPL), and Wegener Corporation (WGNR).
Today’s Performance: Shares of MMI are up over 2% in after hours trading.