Motorola earnings skyrocket 600% over last year
Thanks in large part to the introduction of the Droid, Motorola's second quarter earnings are more than six times what the company posted this time last year.
In the last three months alone, Motorola has shipped out a whopping 8.3 million mobile phones, besting analyst estimates and even its own internal forecast. Total earnings for the period were $162 million, compared to $26 million just a year ago.
Of the 8.3 million phones, 2.7 of them were smartphones. That's the highest concentration of smartphones in Motorola's decades-long history in the market.
Late last year, it launched the Droid which quickly became the undisputed leader in Android phone sales and was deemed a solid competitor against the iPhone. Indeed, it has been consistently the second best selling mobile phone in the US, behind Apple's gadget.
Earlier this month, it launched the Droid X to a flurry of media attention, long lines, and instant sell-outs nationwide to surpass Motorola's expectations. Droid X sales were not part of the company's second quarter earnings, though, the period of which ended June 30.
The company expects to do even better in the next quarter, predicting its earnings will be about 30% higher.