Moody’s Friday reduced Motorola’s financial outlook to negative b...
Moody’s Friday reduced Motorola’s financial outlook to negative based on the company’s preliminary second quarter assessments. Motorola does not expect its handset business to be profitable in 2007, it said last week. The company expects a larger operating loss…
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in the quarter than in the first, and handset shipments to be 35 million to 36 million, it said. Growth in Motorola’s other businesses probably will offset the dip in handset sales, but the “length of the current setback and the magnitude raise the possibility that a lower rating is more appropriate for the company,” Moody’s said. Motorola is scheduled to release second quarter results Thursday.