Motorola earnings jump despite lower sales
Amid markedly lower sales and sluggish demand for its cell phones, Motorola saw a dramatic boost in earnings for the second quarter.
The company on Thursday reported net profit of $26 million, or 1 cent a share, for the quarter ended July 4, compared with $4 million for 2008's second quarter.
The jump in earnings surprised analysts, who had expected a loss of 4 cents a share, and Motorola itself, which had forecast a loss of 3 cents to 5 cents per share.
Quarterly sales fell to $5.5 billion, a drop of 32 percent from $8.1 billion … Read more