Just in time for the company to be acquired by Google, Motorola Mobility is beginning to right the ship, as evidenced by today's quarterly earnings report. The company reported total net revenues of $3.3 billion -- precisely the same amount earned last quarter, incidentally, and up 11 percent from this time last year -- and a GAAP net loss of $32 million. While the number may put frowns on a few faces, it's still an improvement from Q2's loss of $56 million, and more than half ($18 million) of the losses were attributed to expenses from the Google acquisition. Mobile device revenues are up 20 percent year-over-year and 11.6 million devices were shipped, including 4.8 million smartphones and 100,000 Xoom tablets.
On the regulatory front, Moto offered a few new details about the progress of the company's acquisition. It announced that it will hold a meeting with stockholders on November 17 to gain approval of the Google merger, and -- pending antitrust clearance by the US Department of Justice, the EU and several other government entities -- expects to close the transaction by the end of this year or early 2012 at the latest. Check out all of the numbers after the break.
On the regulatory front, Moto offered a few new details about the progress of the company's acquisition. It announced that it will hold a meeting with stockholders on November 17 to gain approval of the Google merger, and -- pending antitrust clearance by the US Department of Justice, the EU and several other government entities -- expects to close the transaction by the end of this year or early 2012 at the latest. Check out all of the numbers after the break.
Motorola Mobility reports $3.3 billion in revenue and $32 million net loss, offers more details on Google buyout originally appeared on Engadget on Thu, 27 Oct 2011 16:32:00 EDT. Please see our terms for use of feeds.
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