Motorola Mobility story updated from 4:07 p.m.
NEW YORK (TheStreet) -- Motorola Mobility (MMI), the Libertyville, Ill. handset maker gearing up for a busy few weeks of Android debuts, reported solid second-quarter earnings Thursday, but its full-year and third-quarter guidance -- both well below what analysts were expecting -- was dragging down its share price in extended trading by more than 7%.
- Motorola reported adjusted earnings of 9 cents a share on sales of $3.3 billion -- up 28% from the year-ago quarter -- for its second quarter.
- Analysts expected earnings per share of 6 cents on sales of $3.12 billion.
- Last quarter, following its split from sister company Motorola Solutions (MSI), the smartphone and tablet maker reported a narrower-than-expected loss of 8 cents a share on sales of $3.03 billion.
- Motorola closed trading Thursday down 89 cents at $22.91
The company, whose worldwide smartphone market share has been fading in the shadows of giants like Apple (AAPL) and Android rivals Samsung and HTC, is under pressure to show growth and positive results following its Jan. 4 split from Motorola Solutions.
The company's product shipments for the second quarter were solid compared with analyst expectations -- it shipped 4.4 million smartphones and 440,000 Xoom tablets, above the 300,000 predicted.
|Motorola Mobility CEO Sanjay Jha|
--Written by Maggie Overfelt in New York.
>To follow the writer on Twitter, go to http://twitter.com/moverfelt.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV