Motorola's $271M Q1 loss drags on Google's results
The mobile device maker continues to struggle, but executives have hinted at "phenomenal" products to come.
Excluding items, Motorola lost $179 million.
In the year-ago period,the mobile-devices and TV set-top box manufacturer posted a loss of $86 million. In the fourth quarter of 2012,
Its revenue, meanwhile, came in at $1.02 billion, down from $3.08 billion in the year-earlier period and from $1.51 billion in the fourth quarter. BGC analyst Colin Gillis had estimated first-quarter sales of $1.37 billion for Motorola, which he called "weak" in a note earlier this week.
Results of late have been impacted by Google's decision in December for $2.35 billion in cash and stock. As a result of the planned sale, Google moved the results to its discontinued business section.
Google Android market, and its financial results have reflected the tough times. Google's quarterly numbers, in turn, have been hurt by Motorola, but the combined company has yet to release any blockbuster products that have turned Motorola's fortunes around. Motorola has struggled to compete with Apple and Samsung, which dominates the
Google has warned in the past that Motorola's results will be "variable" as the company restructures itself and readies new products. Google said a couple of months ago that it was working through a product pipeline of 12 to 18 months that it inherited from the acquisition. The combined company isSome speculation next month.
Google Chairman Eric Schmidt earlier this week called Motorola's new products "phenomenal" and noted that while competition in the mobile market is tough, people should wait to see the "very, very impressive" products Motorola is developing.