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Motorola posted quarterly earnings and revenue that beat Wall Street expectations driven by products such as mobile network equipment, sending its shares up 1 percent.
While smartphone sales held no surprises, Avian Securities analyst Matthew Thornton said revenue beat his expectations at the networks unit, which Motorola is selling to Nokia Siemens, a venture of Nokia and Siemens AG.
"Investors will be pleased with the results but I don't expect the stock to rally too much because mobile devices was in line and part of the upside came from networks, which is being sold," Thornton said.
Network equipment sales of $967 million were ahead of Thornton's expectation for $940 million while mobile devices revenue of $1.7 million was in line with his estimate.
Motorola, which plans to split itself in two in the first quarter next year, posted a profit of $162 million, or 7 cents per share compared with a profit of $26 million, or 1 cent per share, in the same quarter the year before.
Excluding items, it earned 9 cents per share compared with Wall Street expectations for 8 cents, according to Thomson Reuters.
Net sales fell to $5.414 billion from $5.497 billion in the same quarter the year before but were ahead of the average analyst expectation for revenue of $5.19 billion, according to Thomson Reuters.
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