Motorola Mobility reported net revenues of $3.3 billion in the second quarter of 2011, up 28 percent from the second quarter of 2010. The GAAP net loss in the second quarter of 2011 was $56 million, or $0.19 per share, compared to net earnings of $80 million, or $0.27 per share, in the second quarter of 2010.
Total cash at the end of the quarter was $3.2 billion and includes cash, cash equivalents and cash deposits, and operating cash flow was breakeven for the quarter.
In the second quarter, Mobile Devices launched several new smartphones in the U.S. and markets around the world. Revenues grew over 40 percent driven largely by Latin America and China where sales more than doubled year over year. Our Home business delivered another strong performance, and we introduced several innovative products and services for next generation multi-screen video solutions,” said Sanjay Jha, chairman and chief executive officer, Motorola Mobility.
With a focus on profitable growth and delivering differentiated LTE smartphones and tablets, we expect to achieve profitability in Mobile Devices in the fourth quarter and for the full year 2011,” Jha added.
Mobile Devices net revenues in the second quarter were $2.4 billion, up 41 percent compared with the year-ago quarter. The GAAP operating loss was $85 million compared to operating earnings of $87 million in the year-ago quarter.
The non-GAAP operating loss was $31 million compared to an operating loss of $109 million in the year-ago quarter. The company shipped a total of 11.0 million mobile devices, including 4.4 million smartphones and 440,000 Motorola XOOM tablets.
In the second quarter of 2010, the company shipped 8.3 million mobile devices, including 2.7 million smartphones.
By Telecomlead.com Team