Motorola's profit plunges...
Motorola Inc.'s earnings plunged more than 90 percent during the third quarter, but at least the beleaguered company posted a profit after being mired in red ink over the past six months. Plus, it painted a brighter picture for the fourth quarter.
The Schaumburg-based cell phone giant Thursday announced a net profit of $60 million or 3 cents per share. On a continuing operations basis, its net income was 2 cents per share, including 4 cents in charges associated with previously announced job cuts.
Those results were a tad below the 4 cents per share expected by analysts polled by Thomson Financial. But Motorola said Thursday that it expects fourth quarter profits to range from 12 to 14 cents, two to four cents more than analysts had been expecting.
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