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Technology Stocks : Motorola (MOT)

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From: slacker711	10/28/2010 7:52:19 AM
	1 Recommendation Read Replies (1) of 3436

UPDATE 1-Motorola revenue up on strong smartphone sales Thu Oct 28, 2010 7:32am EDT * Q3 shr $0.05 vs $0.01 year ago * Q3 Rev $5.8 bln * Ships 3.8 mln smartphones vs analyst view 3.57 mln * Motorola shares had closed at $8.09 on NYSE NEW YORK, Oct 28 (Reuters) - Motorola Inc (MOT.N) said on Thursday its mobile devices business posted an operating profit for the first time in over three years on better-than-expected sales of smartphones based on Google Inc's (GOOG.O) Android mobile software. The company, which plans to split itself in two early next year, said its phone unit posted a $3 million operating profit compared with an operating loss of $183 million a year earlier. The unit had a net loss of $43 million. Motorola's total profit rose to $109 million, or 5 cents per share, from $12 million, or 1 cent per share, a year earlier. Revenue rose 6 percent to $5.8 billion from $5.4 billion in the year-earlier quarter. The latest quarter includes $871 million of sales from the network equipment unit which Motorola is selling. Motorola shipped 9.1 million phones in the quarter including 3.8 million smartphones. The average expectation was for 3.57 million smartphones, according to six analysts contacted by Reuters.

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