Motorola Inc shares rose as much as 2.8 percent in Germany after the No. 2 maker of mobile phones unexpectedly reported a profit, excluding certain items, in its phone business, the company's largest.
The shares rose US$0.50 to 18.50 euros (US$16.88) in Germany after falling 3.9 percent to US$16.72 in US trading yesterday. The shares have declined 17 percent in the US this year. Motorola said its unit that makes mobile phones, pagers and two-way radios had a pretax operating profit, excluding certain items, of US$19 million after two quarters of losses.
Spokesman Scott Wyman said he didn't have details on what caused the unit to have a pretax operating loss of US$338 million. Orders rose to US$3 billion from US$2.9 billion the previous quarter.
"Handsets were a bit better than expected," said Mark McKechnie, an analyst at Banc of America Securities, who rates the stock a "buy" and doesn't personally own the shares.
For the quarter, Motorola posted a loss of US$1.41 billion, or US$0.64 a share, compared with net income of US$531 million, or US$0.23, a year earlier, Motorola said in a statement.
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