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naveedaziz83 Posts: > 500

Motorola loses $3.6B, suspends dividend, CFO exits

NEW YORK - Motorola Inc. posted a massive fourth-quarter loss Tuesday as it recorded charges to reflect the dwindling value of its cell phone business. The maker of telecommunications equipment also suspended its dividend and announced the departure of its chief financial officer.

Its stock tumbled 11 percent.

Motorola lost $3.6 billion, or $1.57 per share, in the fourth quarter.


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Posted: 2009-02-03 16:10:36
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