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Motorola touched 8,87$ with Q2 Profits

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Motorola reported today nice and surprising 2Q profits, above the expectatives. The home-entertainment, public safety units and the wireless-phone division explains the gains. In the second quarter, Motorola reported net income of $4 million, or break even per share, up from a year-earlier loss of $28 million, or 1 cent a share. These aren’t great profits but what matters it the fact of those being above the analysts predictions.

Sales dropped 7.4% to $8.1 billion from $8.73 billion a year earlier. Analysts were expecting the company to lose 4 cents a share on revenue of $7.72 billion.
Despite this profit the sales are dropping and the main reason (according to the analysts) is related to the “old” design of Motorola mobile phones when compared to Apple, Nokia or Samsung phones.
The handset unit posted an operating loss of $346 million, compared with an operating loss of $332 million a year ago. The division, which lost $1.2 billion in 2007, has already lost $764 million in the first half of this year.
Mobile sales fell 22% to $3.3 billion from the year-ago quarter. The mobile unit accounted for just 41% of total sales, compared with as much as two-thirds of Motorola’s revenue a few years ago.
At the moment Motorola is quoting at 8,65, with a high in the Pre-Market at 8,87$. Let me remind you that the shares closed yesterday at 7,68$!!!!
Pre-Market Activity
08:40 $ 8.65 250,000
08:40 $ 8.67 100
08:40 $ 8.65 150,000
08:40 $ 8.67 1,000
08:40 $ 8.67 1,000
08:40 $ 8.67 1,000
08:40 $ 8.67 500
08:40 $ 8.67 1,000
08:40 $ 8.67 500
08:40 $ 8.67 1,000
08:40 $ 8.67 100
08:40 $ 8.67 1,000
08:40 $ 8.67 1,000
08:40 $ 8.67

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By , Financial Director and Correspondent on Jul 31st, 2008 GMT +2

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