Motorola Mobility, which is still awaiting approval to be acquired by Google for $12.5 billion has just released its earnings for the first quarter of 2012, and the company continues to lose money. The handset and cable box manufacturer posted a $86 million loss for the quarter on a GAAP basis, led by a $121 million dollar loss from the mobile unit. The company’s home segment was able to recoup some of those losses, as it pulled in $15 million more in profit than a year ago. We’ve heard that Google plans to sell the cable box unit (which is contained by the home segment), but the company is going to have to figure out a way to turn around Motorola’s cellphone business if it wants to make Motorola Mobility profitable. The mobile phone unit lost $24 million more this quarter than it did over the same period of time last year.
Motorola Mobility posts $86 million loss in Q1 on $3.1 billion in revenue, ships 8.9 million phones
Motorola Mobility, which is still awaiting approval to be acquired by Google for $12.5 billion has just released its earnings for the first quarter of 2012, and the company continues to lose money. The handset and cable box manufacturer posted a $86 million loss for the quarter.
Motorola Mobility, which is still awaiting approval to be acquired by Google for $12.5 billion has just released its earnings for the first quarter of 2012, and the company continues to lose money. The handset and cable box manufacturer posted a $86 million loss for the quarter.
In the report, Motorola Mobility says that it still expects the Google acquisition to be completed before the half-way point of this year, which is quickly approaching. The deal has already been approved by the US and the EU, but a Chinese go-ahead appears to be standing in the way, as the nation began an even deeper investigation into the purchase just a month ago. The merger’s related costs (banking and legal fees, mostly) accounted for about 21.5 percent of the company’s losses for the quarter.
