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April 8, 1997updated 05 Sep 2016 12:53pm

MOTOROLA Q1 BEATS WALL STREET PROJECTIONS

By CBR Staff Writer

Motorola Inc posted first-quarter numbers on Monday that were slightly healthier than expected. The company reported net income down 15% at $325m on revenue that slipped 5% to $6.64 bn. Earnings per share were down 16% at $0.53. Analysts were calling for earnings of $0.45. First quarter performance benefited slightly from the favorable settlement of patent claims as well as a one-time gain on the sale of an investment. The overall decline in revenue from the same quarter last year is mostly attributed to declining sales (off 16%) in the Semicondutor Products Segment. The Cellular Products and Land Mobile Products Segments saw sales grow 4% and 18%, respectively. Cellular products accounted for the most revenue, with $2.7bn.

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