Motorola Announces 48% Growth in Second-Quarter Profit

6:30 am on July 21, 2006 | Category: Business, Cell Phones, Mobile Devices

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America’s top cell phone maker, Motorola Inc., achieved a 48% increase in profits for the second-quarter, fueled by record handset sales and shipments.

Motorola managed to ship a total of 51.9 million mobile phones over the course of the three month period, meeting an ongoing demand for the wildly popular RAZR phone. The company’s worldwide market share has now reached 22%, up 4.3 percentage points in the last year.

Overall profits came in at $1.38 billion, or $0.55/share, up from $933 million in the second quarter of last year. These results far exceed the $0.31/share predicted by Thomson Financial survey of analysts and industry watchers.

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    Edited by Jeremy Maddock