Motorola Mobility Drops as Profit Forecast Trails Estimates
This article is for subscribers only.
Motorola Mobility Holdings Inc., spun off in January from Motorola Inc., declined in New York trading after the Droid smartphone maker forecast profit for this quarter and full year that trailed analysts’ estimates.
Profit excluding some charges will be 48 cents to 60 cents a share this year, the Libertyville, Illinois-based company said yesterday in a statement, below the average estimate of 66 cents in a Bloomberg survey of analysts. The company said it will break even this quarter or report a profit of as much as 10 cents a share, compared with an average estimate of 24 cents.