NEW YORK (AP) - Motorola is reporting a sharply higher profit for the second quarter that beats Wall Street expectations on revenue that was almost the same as a year ago, signaling the end of a long decline.
Motorola Inc.’s cell phone unit on Thursday posted a profit after years of losses, though that was partly due to a legal settlement.
The Schaumburg, Ill., company reported net income of $162 million, or 7 cents per share in the quarter. That’s up from $26 million, or 1 cent per share, a year ago.
Excluding items, Motorola would have earned 9 cents per share. Analysts expected a penny a share.
It says revenue fell 1.5 percent to $5.4 billion. Analysts expected $5.2 billion.
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