Motorola Q2 earnings revealed, 2 new tablets on the way
Motorola’s Xoom may have brought about the Android Honeycomb tablet revolution, but it doesn’t seem to have profited immensely as a result. In revealing their 2nd quarter earnings, Motorola Mobility announced high revenues and low tablet shipments, but promised better futures to come.
In a conference call yesterday, Motorola CEO and Chairman, Sanjay Jha, announced that the company’s revenues in Q2 of 2011 totaled to $3.3 Billion, a 28% increase over this time a year ago. However, it doesn’t look as if the Xoom tablet played a big role in these profits, with only 440k of the 11 Million mobile devices shipped by Motorola coming from the Android tablet. In comparison, Apple managed to sell around 9.25 Million iPads in the last quarter and ASUS shipped around 400,000 Transformers in June alone.
On the other hand, Motorola doesn’t seem to have lost hope in the Android tablet market and could have more in store. According to Mr. Jha, Motorola is planning on releasing two unnamed tablet devices by the end of this year, one with a 10.1” display to rival Samsung’s Galaxy Tab and another smaller sized tablet. In addition, both tablets will be LTE equipped and would bring the total of Motorola LTE devices to "at least" five.
Motorola’s second quarter tablet earnings may have been less than optimal, but the company seems to believe that there’s room for growth. While no further specs about the tablets have been unveiled, Xoom 2 rumors have been filling the air, and we should hopefully learn something very soon.
Motorola Mobility Announces Second-Quarter Financial Results
- Net revenues of $3.3 billion, up 28 percent from second quarter 2010
- GAAP net loss of .19 per share compared to net earnings of .27 per share in second quarter 2010
- Non-GAAP earnings of .09 per share compared to .30 loss in second quarter 2010
- Mobile Devices revenues of $2.4 billion, up 41 percent from second quarter 2010; GAAP operating loss of $85 million; non-GAAP operating loss of $31 million
- Shipped 11.0 million mobile devices, including 4.4 million smartphones and 440,000 tablets
- Home revenues of $907 million, up 2 percent from second quarter 2010; GAAP operating earnings of $62 million; non-GAAP operating earnings of $90 million
- Expanded Motorola DROID family at Verizon Wireless with the introduction of DROID X2 and DROID 3 by Motorola both featuring a dual-core 1GHz processor, providing better gaming experiences, web browsing, multi-tasking, and Adobe® Flash® video performance
- Launched 4 new smartphones in China, including the Motorola XT883 with China Telecom, the newest and most advanced member of the powerful Milestone™ product family, and the XT316, Motorola’s first value priced smartphone for emerging market consumers
- Announced plans to launch 10 devices in 2011 with Sprint, including Motorola Photon™ 4G, Sprint’s first international smartphone, the ready-for business Motorola XPRT™ smartphone, the Motorola TITANIUM™ smartphone featuring iDEN technology, and Motorola TRIUMPH™, a value priced smartphone for prepaid customers on Virgin Mobile USA
- Expanded distribution of the ATRIX™ 4G smartphone and Motorola XOOM tablets into Latin America, China, Korea, and Europe
- Named exclusive U.S. launch marketing partner for mobile devices and tablets by Spotify. Spotify is an award-winning digital music service that gives users on-demand access to one of the world’s largest music libraries
- Introduced Motorola Televation™, a broadband video device enabling consumers to watch live TV on a connected IP device anywhere around the home
- Launched the Medios Xperience platform which enables operators to merge video content with social networking, games and web-based content, and deliver more interactive functionality with broadcast television and video-on-demand services
- Selected by Time Warner Cable to develop a video gateway platform capable of delivering an advanced in-home entertainment experience and announced the DCX3600M, Motorola’s first video gateway device
- Selected by ESPN to transition all programming for ESPN and ESPN-2 networks to an MPEG-4 HD format using Motorola’s video distribution solution
- Third-quarter net earnings per share of .00 to .10
- 2011 net earnings per share of .48 to .60
- Excludes charges associated with items of the variety typically highlighted by the Company in its quarterly earnings results, stock-based compensation expense and intangible assets amortization expense
About Motorola Mobility
Motorola Mobility, Inc. (NYSE:MMI) fuses innovative technology with human insights to create experiences that simplify, connect and enrich people's lives. Our portfolio includes converged mobile devices such as smartphones and tablets; wireless accessories; end-to-end video and data delivery; and management solutions, including set-tops and data-access devices. For more information, visit motorola.com/mobility.
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