Faced with sluggish profit, Motorola cuts earnings estimate

The business prospects of Motorola, a 78-year-old technology company, suddenly look as thin as the Razr, its popular mobile phone.

The company on Wednesday sharply revised its earnings estimates for the first three months of this year, dropping its revenue projections by more than $1 billion for the quarter.

The company also announced a management shake-up and said it was expanding a stock-buyback program, addressing a demand by the billionaire investor Carl Icahn, who has purchased a large number of Motorola shares.

Read Full Article from International Herald Tribune

- Posted: 2007-03-22 10:24:53

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