Wednesday, April 3, 2013

Motorola Rallies As Q3 Results Top Its Previous Forecast

Motorola (MOT) shares are trading higher this morning on better-than-forecast Q3 results.

For the quarter, the company posted revenue of $5.8 billion, ahead of the Street at $5.65 billion; revenue from continuing operations was $4.9 billion. Non-GAAP profits of 16 cents a share was ahead of the company’s guidance of 10-12 cents a share; the company earned 12 cents a share from continuing operations. The Street has been looking for total profits of 11 cents a share.

The company said it sold 9.1 million handsets in the quarter, including 3.8 million smart phones. The company sold 2.7 million smart phones and 8.3 million total handsets in Q2.

For Q4, the company sees profits of 14-16 cents a share, about in line with Street estimates at 15 cents.

MOT this morning is up 42 cents, or 5.2%, to $8.51.

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