Motorola Mobility Holdings Inc., the maker of cellphones and cable set-top boxes that split off from the rest of Motorola in January, said Thursday that it narrowed its loss in the first quarter as it nearly doubled shipments of smartphones.
Motorola Mobility posted a loss of $81 million, or 27 cents per share, for the January to March period. That compares with a loss of $212 million, or 72 cents per share, a year ago.
Excluding stock-based compensation and amortization of intangibles, the loss was 8 cents per share, less than the 11 cents per share analysts surveyed by FactSet had expected, on average.
Revenue was $3.03 billion, up 22 percent from a year ago, and beat analyst estimates at $2.84 billion.
The Libertyville, Ill.-based company said mobile devices revenue totaled $2.1 billion, up 30 percent from the year-ago quarter. Motorola Mobility shipped 9.3 million of these products during the period, including 4.1 million smart phones and over 250,000 tablet computers.
The company rolled out a number of mobile products in the first three months of the year, including its Xoom tablet, which runs on the tablet-geared version of Google Inc.'s Android operating software, and the Atrix smartphone, which can also connect to a laptop dock to function as a computer.
Revenue from the company's home unit, which makes various consumer electronics, climbed 8 percent to $904 million.
For the current quarter, Motorola Mobility expects to break even or earn as much as 12 cents per share, excluding one-time items. Analysts are hoping for an adjusted profit of 12 cents per share.
Motorola Mobility shares rose 56 cents, or 2.3 percent, to $24.50 in extended trading. The stock had finished regular trading up 37 cents at $23.99.