Mobile phone heavyweights Motorola, have reported bumper earnings for the third quarter, with profits more than tripling after record sales.
Purring contentedly over a ‘none more black’ balance sheet, Motorola announced that the results for the three months until the end of September revealed a net profit of $1.75bn (~£1bn, ~€1.46bn), compared to $479m from the same period last year.
Handsets were up 41% year-on-year with quarterly sales soaring 26% to a new high of $9.42bn, from $7.5bn for the same period in 2004.
The world’s second largest maker of mobile phones also managed to grab a bigger share of the global mobile phone market, barging their way to a fat 19% slice – up 5.5% over the year, and up 1% since the second quarter of 2005.
Since Ed Zander took over as the company’s CEO in 2004 Motorola have been on a roll, with sales and profits heading in a stratospheric direction.
“We are very excited about our third quarter results and overall performance year-to-date… Excluding re-organisation charges, all four of Motorola’s businesses grew profitably during the quarter,” said a deeply chuffed Zander.
During the last quarter, Motorola managed to ship 38.7 million mobile phones, including 6.5 million of its fashionable slimline Razr units and a quarter of a million iTunes music phones.
The US company is now forecasting pocket-bulging fourth-quarter sales of $10.3bn.