Financial News

Motorola stocks fall on quarterly loss

27/01/2012

Motorola stocks fell after disappointing results

Stocks in mobile telecoms firm Motorola Mobility fell on the New York Stock Exchange, after the technology company posted disappointing earnings this quarter.

In the wake of after-hours movements, Motorola equities dipped 0.94 per cent on the New York Stock Exchange with more dips potentially following.

The last twelve months saw Motorola Mobility Holdings lose $80 million (£51 million) equating to a dip of around 27 cents per share.

These figures were down significantly on the $80 million gains seen in 2010 and came as revenue fell flat with profits of $3.44 billion (£2.19 billion).

The company warned that adjusted earnings were set at $61 million or 20 cents per share for the period, prompting a downturn in stocks in New York.

Motorola has struggled in the ultra competitive smartphone and computer tablet market, with Apple dominating the market with record profits for the year.

A Motorola statement said the firm remained "energized by the proposed merger with Google and continue to focus on creating innovative technologies."

The firm is close to  completing a $12.5 billion (£7.8 billion) sale.

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