Motorola Earnings: Droid Most Definitely Does
Motorola’s big bet on Android is starting to pay off.
Posting third-quarter financials this morning, the company reported growth in sales and profit for the period on strong demand for its Android smartphones. Earnings were $109 million, or 5 cents per share, on revenue of $5.8 billion. On an adjusted basis, they were 17 cents per share compared with the Street’s expectation of 11 cents.
In the quarter, Motorola shipped 3.8 million smartphones–enough for its Mobile Devices division to show an operating profit for the first time in over three and a half years. Great news for Motorola, which plans to divide itself into two independent companies early next year–one to handle its mobile devices and home businesses, and the other to handle enterprise mobility.