Motorola Mobility Revenues Beat Analyst Estimates

Motorola Mobility reported revenues that beat analysts’ estimates, building on the steady demand for its Android powered Smartphones and tablet devices.

The company, which spun from Motorola in January, last year reported a 22 percent rise in revenue to $3.03 billion from last year’s first quarter. Analysts had estimated that the company will make $2.84 billion.

Motorola Mobility also managed to reduce its net loss to $81 million, or 27 cents a share compared to a net loss of $212 million or 72 cents a share in the same period last year.

The company revealed that it had shipped 9.3 million mobile devices in the first quarter, out of which 4.1 million for Smartphone devices. Motorola also reported that it had shipped more than 250,000 Xoom tablet units since its launch in February, beating analyst estimates of 220,000 units.

"We will have a sequential Smartphone (shipment) increase quarter-over-quarter and a sequential increase in revenue from Motorola Mobility overall and mobile devices" Chief Executive Sanjay Jha told Reuters.

The company also informed that the delay in the Droid Bionic Smartphone was mainly due to a software issue.

“It was really a software issue of getting the performance to a place that both ourselves and our partner, Verizon Wireless, were comfortable launching the device,” Jha said in a conference call with analysts, according to ABC News.