Holy qwerty keyboards, Wall Street. Struggling Motorola posted a profit—albeit a small one—for the first time in a year. The Schaumburg (Ill.) handset manufacturer reported earnings of $26 million, or 1¢ a share, up from $4 million a year earlier ,BusinessWeek reports.
Meanwhile, the Schaumburg, Ill., company's stock has run up on the hope that the devices, armed with Google Inc.'s (GOOG) flashier mobile operating system, will reinvigorate Motorola's sullied brand. But Co-Chief Executive Sanjay Jha doesn't see the company's fate hinging on a potential holiday blockbuster. While he may just be clamping down on expectations before they get out of hand, his thinking suggests the turnaround may be more drawn out than some expect , Wall Street Journal reports.
However, Motorola plans to introduce phones based on Google Inc’s Android software for the year-end holiday season to reverse a sales decline and compete with Apple Inc. and Research In Motion Ltd. Motorola has cut 8,000 jobs since December as it narrows its phone range. The company is now realizing those savings, said Tavis MacCourt, an analyst at Morgan Keegan & Co. in Nashville, Tennessee , Bloomberg reports.