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Motorola Mobility announced its third quarter earnings today, with a 20 percent increase in mobile device revenue year over year, but still a loss in operating costs.
“[Mobile device revenue was] driven by continued strong growth in international markets,” said Sanjay Jha, chairman and chief executive officer of Motorola Mobility. “We are also excited about the proposed merger with Google and continue to make progress to close this transaction.”
The company agreed to be acquired by Google in August for $12.5 billion, according to a Google’s quarterly report yesterday. This will help flesh out Google’s mobile division with its first internal hardware selection. Should Google fail to meet regulatory requirements, it will have to pay a fee of $2.5 billion to Motorola.
Here are the highlights of the earnings report:
* Operating costs loss hit $41 million in comparison with last year’s $43 million loss.
* Mobile device revenue topped at $2.4 billion.
* Net revenues overall gained an 11 percent rise year over year at $3.3 billion.
* Home division revenue was $825 million , down 10 percent year over year.
* Within this time frame Motorola announced the global launch of its RAZR smartphone and shipped the Droid Bionic, among other products.