Another Dismal Quarter For Motorola Mobility, Reported $121 Million Loss In Q1, 2012

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Motorola Mobility has reportedly released its Q1, 2012 earnings and it’s clear from  the report that the company has almost doubled its Smartphone shipments during the quarter. Despite of this, the company has reported $121 million loss in its mobile unit in Q1 of fiscal 2012. The company’s acquisition by Google for $12.5 billion is on the way to have legal approval across the world. On the GAAP basis, the handset and cable box business of the company posted $86 million loss for the Quarter.

Motorola Mobility has reported to ship 8.9 million mobile devices in Q1 of this year, including 5.1 million Smartphone, while it shipped 6.2 million mobile phones and 2.3 million Smartphones in the same quarter a year back. In spite of increasing Smartphone demand in Q1 of 2012, the company could not manage to avoid $86 million losses on revenue of $3.1 billion. The company reiterated the pending approval of its acquisition by Google might be settled in the second half of the year, however, it has been approved in the US and Europe. There’s still some hurdle to get approval in the China.

However, the home segment of the company endeavored to recoup some of those losses, accounted $15 million more profit for the quarter compare to the same quarter a year back. Company’s mobile Phone unit reported $24 million more loss in the Q1 2012 compare to the same quarter in the prior year. The merger related costs such as banking and legal fees accounted for about 21.5% of the company’s losses in Q1 of this year.

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Anyway, Motorola Mobility’s performance is deteriorating quarter-over-quarter. Indeed, an acquisition of the company by Google might recoup the business of its main sector (mobile unit).

via: The Verge

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