Motorola posts $26-m profit

Written by Reuters | Updated: Aug 1 2009, 04:57am hrs
Motorola Inc posted a quarterly profit versus a year-earlier loss as it cut costs and shipped more cell phones than expected, although revenue fell short of Wall Street estimates. Motorola posted a profit of $26 million, or 1 cents per share, compared with a loss of $231 million or 10 cents a share in the same quarter a year earlier. But revenue fell 32% to $5.5 billion, compared with analysts' average expectation for revenue of $5.62 billion, according to Reuters Estimates. The company shipped 14.8 million phones in the quarter compared with 28 million phones a year earlier. The average Wall Street expectation was for 14.1 million phones,

according to five analysts contacted by Reuters.