Motorola Inc. posted an astonishing profit in the first quarter, as sales of its new phones surpass its own forecasts. Motorola Inc trades on the “New York Stock Exchange” under the stock symbol “MOT”. For More information regarding “MOT” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Motorola Inc. (NYSE:MOT) posted an unanticipated profit in the first quarter, as sales of its new phones surpass its own forecasts. However, it has lost its position as the largest U.S. maker of phones to Apple Inc. (NASDAQ:AAPL). Motorola sold a total of 8.5 million phones in the quarter, while Apple sold 8.8 million iPhones. A year ago, Motorola sold 14.7 million phones in the first quarter. The drop in phone revenue in the latest quarter was just 9 percent, not as abrupt as the drop in overall unit sales would suggest. Motorola can charge much more for the new smart phones than for everyday phones.
As a whole, Motorola earned $69 million, or 3 cents per share in the quarter. In the same quarter a year ago, it lost $231 million, or 13 cents per share. Revenue fell 6.1 percent to $5.04 billion. Motorola shares rose 25 cents, or 3.6 percent, to $7.17 in midday trading. For the current quarter, Motorola said it expects to earn 7 cents to 9 cents per share.
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