7/20/2012 11:03:38 AM
Motorola Mobility loses $233m in first quarter under Google
Motorola Mobility cost Google $233m in the digital company's most recent financial quarter and the search giant was cagey on future plans for its $12.5bn acquisition.
The manufacturer contributed $1.25bn to Google's sales for the quarter ending 30 June, but made an operating loss of $233m.
However, senior Google executives did not reveal what they intend to do with the mobile manufacturer. CEO Dennis Woodside was not part of the conference call with analysts. Chief financial officer Patrick Pichette said: 'Clearly, everybody should expect some changes at Motorola that we have already talked about in the public domain and...Dennis [Woodside] and the management team is there resetting and retooling it. But we have nothing really to announce right now. I think we have to let them do their work.'
Google did describe mobile as 'critical' to its future across its entire business. The wider business reported sales of $12.21bn, up 35% on last year. Net income was $2.79bn, up 11.1%.
Editor: Graeme Neill