Motorola ( MOT) added its voice to the tech sector's chorus of boos Thursday as it warned of a third-quarter revenue shortfall.

The struggling wireless equipment maker projected that third-quarter revenue would be flat with the second quarter's $7.5 billion, due to continuing softness in the end markets for mobile phones, wireless base station equipment and chips. When the company delivered its third-quarter outlook on July 12, it projected a 5% sequential rise; accordingly, analysts had projected third-quarter revenue of $7.8 billion.

Motorola shares dropped 9% to $14.95.

Motorola projected a third-quarter loss of 5 cents to 8 cents a share, slightly wider than earlier projections by the company and the analysts who love it. The company said efforts in its mobile-phone and large satellite and radio-systems business will narrow the third-quarter loss from the second quarter's 11 cents a share. Motorola, which has been aggressively cutting costs, also said it would cut an additional 2,000 jobs from the wireless-systems business; it has laid off 32,000 workers companywide in 2001.

Earlier this week, similarly beleaguered competitor Ericsson ( ERICY) warned investors it did not expect to see a recovery in the wireless market through 2002.

If you liked this article you might like

Dell Proves Its Downturn Strategy Works

Dell Proves Its Downturn Strategy Works

H-P's Report Won't Raise Hopes

H-P's Report Won't Raise Hopes

Don't Look for H-P or Dell to Lift PC Gloom

Don't Look for H-P or Dell to Lift PC Gloom

Memory Chip Prices Fall After Micron's Failed Hynix Deal

Memory Chip Prices Fall After Micron's Failed Hynix Deal

Anadigics Goes Along for the Rally Ride

Anadigics Goes Along for the Rally Ride