Motorola swings to a loss as expected

Motorola's mobile handset sales dropped 40 percent in its second quarter. The company posted a $28 million loss compared with net income of $1.38 million during the same quarter last year. Revenue fell 19 percent to $8.73 billion, down from $10.82 billion last year.

Last week, the handset company warned that its earnings would be down and revenue would be between $8.6 billion and $8.7 billion. Motorola shipped 35.5 million handset units, which was in line with its stated expectation of between 35 million and 36 million units. Motorola said it doesn't expect its handset division to be profitable by year-end, but financials should improve slightly during the second half.

For more on Moto's Q2:
- read this press release