Motorola Mobility posts 1Q loss, higher revenue

Motorola Mobility reports 1st-quarter loss, higher revenue

Associated Press

LIBERTYVILLE, Ill. (AP) -- Mobile phone maker Motorola Mobility Holdings Inc. reported a slightly larger net loss in the first quarter as expenses grew more than revenue.

Google Inc. is in the process of buying Motorola Mobility for $12.5 billion, after the old Motorola Inc. split into two companies in January 2011.

Motorola Mobility posted a net loss of $86 million, or 28 cents per share in the three months that ended on March 31. That compares with a loss of $81 million, or 27 cents per share, a year earlier.

Adjusted loss in the latest quarter totaled 3 cents per share, compared with a loss of 8 cents per share a year earlier.

Revenue climbed less than 2 percent to $3.08 billion from $3.03 billion.

Analysts, on average, were expecting earnings of 2 cents per share on revenue of $2.99 billion, according to a poll by FactSet.

Motorola said it still expects its acquisition by Google to close by the end of June. The deal still needs to be approved by authorities in China.

The company said it shipped 8.9 million mobile devices in the first quarter, including 5.1 million smart phones.

Shares fell 6 cents to close at $38.76.

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