Wednesday, October 26, 2011

Motorola Mobility Posts Q3 Financials, Xoom Tablet Sales Fall Flat

Motorola Mobility reported net revenues of $3.3 billion in the third quarter of 2011, up 11 percent from the third quarter of 2010. The GAAP net loss in the third quarter of 2011 was $32 million, or $0.11 per share, compared to a net loss of $34 million, or $0.12 per share, in the third quarter of 2010.


Mobile Devices net revenues in the third quarter were $2.4 billion, up 20 percent compared with the year-ago quarter. The GAAP operating loss was $41 million compared to an operating loss of $43 million in the year-ago quarter.


The company confirmed the shipment of 100,000 Xoom Android tablets in Q3, down significantly from earlier quarters.


Home segment net revenues in the third quarter were $825 million, down 10 percent compared with the year-ago quarter. GAAP operating earnings were $54 million, compared to $49 million in the year-ago quarter.


The company believes the acquisition by Google to be on track for closing later this year or early next year. Motorola Mobility will hold a special meeting of stockholders on Nov. 17, 2011, to seek stockholder approval of the proposed merger with Google.

http://motorola.com/mobility

  • Apple shipped over 11 million iPad2s in Q3.

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