Motorola Mobility (MMI), which is in the process of being acquired by Google (GOOG), this afternoon said its Q4 revenue will fall short of analysts’ expectations, citing increased competition in smartphones and costs of patent suits.
The company said revenue in the three months ended in December likely totaled $3.4 billion,below the consensus $3.9 billion estimate, and was “impacted by the increased competitive environment in the Mobile Device business and higher legal costs associated with ongoing Intellectual Property (IP) litigations.”
Moto shares were down 16 cents at $38.30 in late trading.
No comments:
Post a Comment