Motorola Mobility (NYSE:MMI) posted a gain in revenues and a shrinking net loss during its third quarter. The company also reported a slight rise in its handset and smartphone shipments.
Specifically, Motorola said it shipped a total of 11.6 million mobile devices, including 4.8 million smartphones, in the third quarter. In comparison, Motorola shipped 11 million handsets in the second quarter, including 4.4 million smartphones. However, analysts polled by Reuters expected Motorola to sell 4.95 million smartphones during the third quarter.
While smartphone shipments expanded in Motorola's third quarter, tablet sales clearly cooled off. The company reported shipping 250,000 Xoom tablets in the first quarter of this year and 440,000 Xooms in the second quarter. But in Motorola's third quarter, the company shipped only 100,000 Xoom tablets.
Nonetheless, Motorola crowed of its successes on the smartphone front during the third quarter, including the release of the company's Droid Bionic, Razr and Atrix 2 smartphones.
On Motorola's financial side, the company posted net revenues of $3.3 billion, up 11 percent from the third quarter of 2010. The company's net loss in the third quarter shrank slightly to $32 million, from $34 million in the third quarter of 2010.
Motorola did not hold a quarterly call with investors, as companies typically do in conjunction with the release of their quarterly numbers. The likely reason is Google's (NASDAQ:GOOG) proposed $12.5 billion acquisition of Motorola, announced in August. In its third quarter earnings announcement, Motorola said it still expects the transaction to close at year-end or early next year; however, the Justice Department is investigating the deal on possible antitrust concerns.
- see this release
- see this Reuters article
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