Updated from April 20Judging by Tuesday's action, Motorola ( MOT) chief Ed Zander already may have earned his
Finance chief Dave Devonshire, summarizing the company's financial turnaround, pointed out that Motorola is now "net cash positive for the first time in 35 years." That's to say the company's cash position is at last larger than its debt obligations. In handsets, the average selling price rose 12% sequentially, showing that the company is selling more expensive phones.
sabotaged Motorola's color camera phone sales last winter. Motorola also boosted second-quarter earnings guidance, saying the company would make around 16 cents a share on some $8.4 billion in revenue. Analysts had forecast earnings of 9 cents on revenue of $6.9 billion. Notably, Motorola announced in December that it would spin off its chip business, which is to be called Freescale Semiconductor. On Tuesday, Motorola slipped 50 cents to $16.20.