Motorola report sends shares north

   Date:2010/07/30     Source:

MOTOROLA Inc posted quarterly earnings and revenue that beat Wall Street expectations, sending its shares up 2 percent.

The company, which plans to split itself in two early next year, posted a profit of US$162 million, or 7 US cents per share, compared with a profit of US$26 million, or 1 US cent per share, in the same quarter the year before.

Excluding items, it earned 9 US cents per share compared with Wall Street expectations for 8 cents.

Net sales fell to US$5.414 billion from US$5.497 billion in the same quarter the year before but was ahead of the average analyst expectation for revenue of US$5.19 billion, Thomson Reuters said.

 

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