Motorola Mobility just released its Q2 earnings and it’s loaded with fun stats. First off, the company posted $3.3 billion in net revenue with non-GAAP earnings of nine cents a share. That’s up 28% over last year’s second quarter and beats the Wall Street’s estimate of just six cents a share. The company also realized a GAAP net loss of $56 million compared to a net earnings of $80 million in 2010.
Over that time period Motorola Mobility managed to ship 11 million devices including 4.4 million smartphones and 440,000 Xoom Android tablets. That’s up from 8.3 total devices last year . Part of this growth came from the Latin America and China markets where revenue grew 40% and sales more than doubled from the previous year. Note, the company reported shipments rather than sales to consumers.
Sanjay Jha, chairman and CEO of Motorola Mobility, stated regarding growth “With a focus on profitable growth and delivering differentiated LTE smartphones and tablets, we expect to achieve profitability in Mobile Devices in the fourth quarter and for the full year 2011.”
The company’s wireless division’s net revenue’s grew a whooping 41% over last year to $2.4 billion, partially lead by the Droid product family and International expansion. Motorola made a big push with Sprint during Q2 and announced plans to launch 10 devices on the carrier including the carrier’s first international phone and a new iDEN Android smartphone.
The company also credits part of the growth from new home entertainment devices such as Motorola Televation IPTV and Medios Xperience. That sector of the company grew 2% over last year and end with net revenues at $907 million.
This report also clears the air concerning the much debated Motorola Xoom. Analysts couldn’t agree on a shipment estimate and most simply stated they were disappointing. Motorola is now saying it shipped (read: shipped, not sold) 440k Xooms during the second quarter. Apple previously stated that they sold 4.69 million iPads during the same time period, outselling the original Honeycomb tablet by at least a factor of ten.
Moving to Q3 Motorola Mobility is predicting a non-GAAP earnings of zero to ten cents a share with Wall Street expecting the company to report a 24 cents a share profit on $3.37 billion in revenue. Then for Q4 Motorola Mobility is expecting 47 cents a share on a revenue of $3.84 billion. The market didn’t like what it saw and Motorola Mobility took a hit in after hours trading.