Motorola Profits Slide, Investors Cheer Nonetheless
Published October 25th, 2007
Motorola reported third-quarter net profits of $60 million, a dismal number compared to the $968 million in profit it enjoyed a year ago but better than the net losses it suffered in the past three quarters. The fact that the Schaumburg, Ill., electronics maker turned a profit in Q3, albeit a slim one, gave a bump to its stock price as analysts and investors believed company officials’ projections that Motorola was done sliding and about to gain some lost ground. Motorola has been hit hard by competition from mobile phone giant Nokia and other players in the dog-eat-dog mobile segment.
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