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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared Arizona immigrant law energizes Hispanics, Democrats 28 Apr 2010 WRAPUP 3-U.S. Coast Guard sets oil slick ablaze 28 Apr 2010 Argentine media-government conflict turns ugly 28 Apr 2010 Iran, Egypt ready for battle at U.N. nuclear meeting 1:06am EDT Police barred from penis enlargement 23 Apr 2010 Florida man charged in Delta flight bomb scare 28 Apr 2010 Special Report: Rapid growth of militias feeds off politics | Video 28 Apr 2010 Greece readies austerity measures | Video 4:43pm EDT Euro recovers, oil gains as Greek aid deal looms | Video 1:01pm EDT Thai troops struggle to contain Bangkok protests | Video 11:34am EDT Arizona immigrant law energizes Hispanics, Democrats 28 Apr 2010 Police barred from penis enlargement 23 Apr 2010 HP to buy Palm in bet on smartphone arena 2:32am EDT Special Report: Rapid growth of militias feeds off politics | Video 28 Apr 2010 Southern coast at risk from huge oil slick | Video 4:21pm EDT Military may join fight to contain Gulf oil slick | Video 12:55pm EDT Prevent Alzheimer's? 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Credit: Reuters/Steve Marcus NEW YORK (Reuters) - Motorola Inc reported a surprising quarterly profit on better-than-expected demand for its higher-margin smartphones, so far vindicating its strategy of relying on Google Inc's Android software system. Technology | Hot Stocks | Media Strength in Motorola's other units including network equipment and fewer sales of unprofitable, cheaper phones also bolstered the company's profit. Motorola also forecast current-quarter earnings per share in a range that could beat average analysts' estimates. Its shares rose 3 percent on Thursday and have gained 18 percent since January as more investors were willing to bet on its turnaround despite stiff competition from rivals like Apple Inc's iPhone. Now the market is set to become even more crowded with the entrance of Hewlett-Packard Co, which on Wednesday announced a deal to buy Palm Inc. "I think (Motorola is) doing the best they can in a very competitive market," RBC Capital Markets analyst Mark Sue said, adding that investors were encouraged that Motorola was accelerating its exit from less advanced phones. Some analysts said Motorola's share rise may have been muted by the Palm news. Sanjay Jha, Motorola's co-chief executive said the Palm deal may change the market dynamic but wouldn't alter Motorola's task of making stand-out phones. Jha told an analyst conference call that the phone unit would post its first profit in years in the fourth quarter. The mobile devices division still posted an operating loss of $192 million in the first quarter, but this was much narrower than its loss of $545 million a year earlier. While Motorola smartphone sales rose to 2.3 million from 2 million in the fourth quarter its overall phone sales fell to 8.5 million phones from 12 million in the last quarter. This was short of the average forecast of 10.2 million from nine analysts contacted by Reuters but Jha said the sales decline made the unit's progress all the more impressive. "To see that contraction in shipments ... and yet improve our operating loss (in mobile phones) is a hell of a feat" Sanjay Jha, Motorola's Co-chief executive who heads mobile devices told Reuters. "I see this as a sign we're turning the mobile devices business around and making great headway in probably the most important segment of the mobile devices market which is smartphones," he said. In the global market Motorola is expected to rank fourth in the first quarter, behind Nokia, Samsung Electronics and LG Electronics. But Jha estimated that it held its third place ranking in the North American smartphone market, putting it behind only iPhone and BlackBerry from Research In Motion. He said that while total phone volumes would decline again this quarter, smartphones sales will increase sequentially, resulting in an improvement in operating losses. Jha predicted growth for this quarter as Motorola's distribution expands. He also predicted that its new phones would do well, particularly in China. NORTH AMERICA AND CHINA It posted a first-quarter profit of $69 million, or 3 cents per share, compared with a loss of $231 million, or 10 cents a share, in the same quarter the year before. Excluding items, profit per share was 2 cents compared with average analyst expectations for a loss of 1 cent per share, according to Thomson Reuters I/B/E/S. As well as strong phone sales in North America and China Motorola said the profit was helped by a better-than-expected profit in Motorola's network equipment business, which increased operating earnings to $112 million from $62 million in the same quarter the year before. Avian Securities analyst Matthew Thornton said some investors expected worse after a weak report from Nokia. "It was a good quarter in the face of cautious expectations," he said, adding that Motorola's cash generation of $455 million was a good sign ahead of its plan to separate into two companies early next year. Revenue fell 6 percent from a year ago to $5.04 billion, and compared with Wall St expectations for $5.098 billion. Motorola forecast current-quarter earnings per share of 3 cents to 5 cents, including expenses for stock-based compensation and amortization of intangibles. That compares with the average Street forecast of 3 cents per share according to Thomson Reuters I/B/E/S. The company tweaked its target for 2010 smartphone sales to a range of 12 million to 14 million from its previous guidance of 11 million to 14 million. Motorola shares rose 21 cents, or 3 percent, to $7.13 on New York Stock Exchange. (Reporting by Sinead Carew; Editing by Derek Caney and Maureen Bavdek) Technology Hot Stocks Media Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. More from Reuters Southern coast at risk from huge oil slick HOUSTON (Reuters) - A massive oil spill threatens to hit the southern U.S. coast with an environmental disaster, slap energy giant BP Plc with a huge cleanup bill and derail plans to open up more offshore drilling. | Video Rights groups to challenge Arizona immigration law Florida governor set to kick off 3-way Senate race Obama taps Yellen as Fed No. 2 Senate launches debate on Wall Street bill | Video Geithner vows crackdown on mortgage servicers » More Top News Oil spill may last 90 days It could take up to three months to stop a growing oil slick near the shore of four Gulf states in what may be the biggest such operation ever. Video | Slideshow Infographic: Map of the oil rig leak Fears of fishery, tourism damage Possible political fallout Not just BP's problem U.S. Greek cuts could get ugly The plan for steep cuts to Greece's deficit looks nearly impossible, could spark a huge backlash and may spin the country into a deeper recession. Full Article | Video Felix Salmon: It's the ECB’s fault Debt restructuring idea gains traction Is Portugal the next Greece? Slideshow: Debt ratio by country Greece © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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