Motorola posts $86m Q1 loss, despite rise in revenue
updated 07:00 pm EDT, Tue May 1, 2012
Device shipments down to 8.9 million
Motorola Mobility has posted its first-quarter financial disclosures, pointing to an $86 million loss despite a slight uptick in revenue. The numbers compare to a $80 million loss in the previous quarter, and an $81 million loss for the same quarter last year.
The company notes that it has sold 8.9 million mobile devices through the quarter, including 5.1 million smartphones, though an exact breakdown has yet to be disclosed. The Razr Maxx launch is described as "another successful addition," while the company's home segment, which includes home monitoring devices and entertainment equipment, brought improved profitability of $68 million.
The lackluster results come on the heels of significant layoffs, which have effected hundreds of staffers in the recent quarter. The company late last year announced that 800 jobs would be slashed, eventually producing a savings but initially costing more than $30 million in severance compensation and other payments.
The cellphone maker noted that it still expects Google's proposed acquisition to be closed within the first half of the year. The $12.5 billion deal will allow Google to take over Motorola Mobility's mobile device business, though recent reports suggest the search giant plans to divest the set-top box segment.
