Motorola beat analyst expectations with their third quarter financial results today. Overall sales for the quarter reached $5.5 billion, translating to $616 million in positive cash flow and$0.01 per share. Their mobile devices division specifically shipped 13.6 million units (4.7% market share, down from 25.4 million last year), and reduced operating loss to $183 million, versus a loss of $840 million in Q3 ’08. Motorola’s first quarter this year cast quite a shadow on their 2009, but between these relatively bright results, the burgeoning cliq and the promising droid devices, Q4 is looking pretty good. Here are some quick analyst reactions to the report:
“In the third quarter the upside is primarily driven by their enterprise business and continued cost rationalization in the mobile devices business.” – Matthew Thornton, Avian Securities
“They have been very effective in cost cutting and the Droid really is the best device Motorola has come up with since 2005.” – Tero Kuittinen, MKM Partners LP
“Motorola will get a waiver from investors as long as it shows directional improvements in its financial model.” – Mark Sue, RBC Capital
For more financial news and keeping an eye on wireless stock, take a gander at our Finance section.
[via Motorola]