Rochester,NY 8/7/2009 11:58:46 PM
Motorola Inc.,MOT-unexpected profit for the second quarter
Motorola Inc
Motorola Inc. on Thursday posted an unexpected profit for the second quarter after many quarters of losses, and declared it expected things to keep developing this year.While sales continued to decline from last year, Motorola said the cost cuts, including 8,000 layoffs so far this year, set the stage for a comeback from its long-suffering cell phone unit.
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The latest results were boosted 2 cents per share by many one-time effects, but even so, Motorola exceeded its own forecast, which called for a loss of 3 cents to 5 cents per share, excluding the cost of its restructuring initiatives.
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