Motorola sees small third-quarter profit

From CNET News.com: Beleaguered handset maker Motorola on Thursday had some good news to offer investors, reporting a small profit for the third quarter.

For the three months ended October 3, Motorola reported net income of $12 million, or a penny per share, compared with a loss of $397 million (and a loss of 18 cents per share) for the year-ago period.

Revenue, however, was down year over year, coming in at $5.45 billion for the third quarter of 2009, versus $7.48 billion in the same quarter of 2008.

Analysts polled by Reuters had been forecasting, on average, a break-even quarter on revenue of $5.54 billion.

For the fourth quarter, Motorola is forecasting earnings from continuing operations of between 7 cents and 9 cents per share. Analysts have been expecting, on average, 6 cents per share.

The earnings report found a favorable response on Wall Street. In early trading Thursday, shares were up roughly 9 percent to around $8.68, following Wednesday's closing price of $7.96.

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