Motorola Gained 17% Last Week - TheStreet

Motorola

(MOT)

climbed 17% on the week after reporting a narrower-than-expected loss and predicting a 4-cent profit for all of 2002. Analysts had expected the semiconductor and cell-phone giant to break even in 2002. For the first quarter, the company lost $449 million, or 20 cents a share, including charges largely for depreciation of assets and investment losses. Excluding those charges, Motorola would have posted a loss of $174 million, or 8 cents a share. Analysts surveyed by Thomson Financial/First Call expected a loss of 12 cents a share. Revenue for the first quarter fell to $6.02 billion from $7.68 billion. The company still expects sales from ongoing operations for 2002 to fall 5% to 10% from year-ago sales of $30 billion.