Motorola Mobility Q3 Losses Surge - Twice

Motorola Mobility Q3 Losses Surge

Mountain View, Calif. – Motorola Mobility’s GAAP operating loss surged to $527 million in the third quarter from the second quarter’s $233 million on revenues of $2.58 billion, a draft of Google’s latest financial statement shows.
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Mountain View, Calif. – Motorola Mobility’s GAAP operating loss surged to $527 million in the third quarter from the second quarter’s $233 million on revenues of $2.58 billion, a draft of Google’s latest financial statement shows.

 Google did not disclose Motorola’s operating losses or revenues for the year-ago quarter, when Google did not own Motorola. However, Motorola’s own filings from that time show year-ago revenues were $3.3 billion, indicating a 22 percent drop in third-quarter 2012 revenues.

 The latest numbers also indicate that Motorola’s losses grew from last year’s third quarter, when Motorola posted a net loss of only $32 million. Information about Motorola’s operating losses in 2011’s third quarter were unavailable.

 In breaking out Motorola’s third-quarter 2012 operating loss, Google said losses in Motorola’s mobile segment were $505 million, and losses in Motorola’s home segment came to $22 million. In the second quarter, Motorola’s mobile business posted a $192 million operating loss, and the home business posted a $41 million operating loss.

For the quarter, $1.78 billion of Motorola’s $2.58 billion in revenues came from its mobile segment, while the remaining $797 million came from the home segment. Motorola accounted for 18.3 percent of Google’s total third-quarter revenues.

 For the nine-month period, Motorola revenues were $3.83 billion, or 10.4 percent of Google revenues.

Google’s draft earnings statement was inadvertently released by Google’s financial printer RR Donnelley, Google said.

The draft shows that Google’s consolidated revenues rose 45.1 percent in the quarter to $14.1 billion but operating income fell 10.5 percent to $2.74 billion and net income fell 20.3 percent to $2.18 billion.

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