By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Mountain View, Calif. – Motorola Mobility’s fourth-quarter revenue shrank 24 percent to $1.15 billion on a GAAP basis, and the Google unit’s operating losses grew 43.6 percent to $507 million, Google’s financial report shows.
For the year, Motorola’s revenues declined 32 percent to $4.31 billion, but operating losses shrank by 25 percent to $895 million.
The numbers are based on Google’s financial reports from the second quarter of 2012 through the end of 2013. Numbers from 2012’s first quarter are based on the financial reports of Motorola Mobility before it was acquired by Google in May 2012.
Motorola’s cellular business also posted operating losses in fiscal 2011 and 2012, previous financial reports show.
Yesterday, Google announced that it was selling off Motorola, except for most of Motorola’s patents, to Lenovo.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.