Updated from July 20 Motorola ( MOT) swung to a loss in its latest quarter after a charge related to its chip-business spinoff. But the company's shares rose 3% early Wednesday as investors were reassured by a strong revenue gain and a rise in top-line guidance. Motorola also said it would change leadership in its key wireless phone unit, after the unit posted a solid rise in handset sales. For its second quarter ended June 30, the Schaumburg, Ill., tech shop posted a loss of $203 million, or 9 cents a share, on revenue of $8.7 billion. That reverses the year-ago gain-aided profit of $119 million, or a nickel a share. Year-ago sales were $6.16 billion. Analysts surveyed by Thomson First Call had forecast an 18-cent-a-share operating profit on sales of $8.49 billion. The latest quarter, however, included a charge of $898 million, or 38 cents a share, related to establishing a deferred tax asset valuation reserve stemming from the initial public offering of the company's Freescale Semiconductor ( FSL) unit. The latest period also included various other charges and gains that appear to roughly offset one another. "I think this was better than the Street had feared," said a hedge fund manager who has no position in the stock and asked not to be named. Motorola boosted its third-quarter revenue guidance to around $8.6 billion from the previous $8.4 billion. The company said earnings would be 15 to 19 cents a share, which is toward the low end of Wall Street's estimate range. Motorola rose 58 cents early Wednesday to $16.67.