Motorola Mobility Holdings Inc (NYSE: MMI) reported late Thursday that its first quarter loss was $81 million, or 27 cents a share, compared with a net loss of $212 million, or 72 cents a share, in the same quarter last year. On an adjusted basis, the company said it would have lost $25 million, or 8 cents a share for the recent quarter. Revenue increased 22% to $3.03 billion. Analysts, on average, expected the company to report a loss of 11 cents a share on revenue of $2.84 billion.
"In the first quarter, we reached a major milestone in our history by becoming a new independent, public company. We enhanced our product portfolio by delivering compelling experiences with the launch of Motorola ATRIX(TM) and Motorola XOOM(TM), as well as offering unique end-to-end video solutions for the home," said Sanjay Jha, chairman and chief executive officer, Motorola Mobility. "With a well-recognized brand, a strong balance sheet and industry leading intellectual property, we have the right assets to deliver an exciting pipeline of products, continue to grow our business and further improve our financial results."
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