Motorola beats St estimates

Written by Reuters | Updated: May 1 2010, 04:02am hrs
Motorola Inc posted a quarterly profit versus a year-earlier loss as it sold more smartphones than Wall Street estimated even as overall phone sales declined faster than expected. The companys shares rose 3.2% after it posted a first quarter profit of $69 million, or 3 cents per share compared with a loss of $231 million or 10 cents a share in the same quarter the year before. Revenue fell to $5.04 billion from $5.37 billion the year before, compared with expectations for $5.098 billion. Motorola said it sold 8.5 million phones and 14.7 million phone sales in the same quarter a year earlier.

Exxon Mobil net rises 38%

Exxon Mobil Corp said on Thursday its first-quarter profit rose 38%, as the largest US oil company benefited from crude prices that nearly doubled from a year ago, but the results missed Wall Street expectations. Profit in the quarter stood at $6.3 billion, or $1.33 per share, compared with $4.55 billion, or 92 cents per share, a year earlier. Wall Street analysts had expected Exxon to report a profit of $1.41 per share, according to Thomson Reuters. Shares of Exxon fell nearly 2% to $68 before the start of regular trading.