Motorola reports first growth quarter since 2008
Motorola announced its Q3 results on Thursday and while the seemingly imminent arrival of the Verizon iPhone weighs heavily on investors’ minds, Motorola managed to report its best quarter in some time. Sales in the third quarter were up 13% year over year to $4.9 billion and phone revenue came in at $2 billion, up 20% from the year prior. Motorola shipped 9.1 million cell phones in Q3, 3.8 million of which were smartphones. Smartphone shipments beat the Street’s estimates, which typically fell between 3.5 and 3.6 million. Motorola also stated that its total cash on hand rose to $9 billion. Motorola’s business relies heavily on its current deal with Verizon Wireless, where its DROID-branded smartphones are a central draw that Verizon spends big marketing dollars on. Should Verizon finally manage to launch a CDMA version of the Apple iPhone next year, which is looking increasingly likely, it could spell trouble for Moto.
Zach Epstein
Zach Epstein is the Executive Editor of BGR. He has 10 years of industry experience, first in marketing and business development with two private Telcos, then as a writer and editor covering business, technology and telecommunications.
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