Motorola's fourth-quarter revenue jumped to $8 billion, beating analysts' estimates.
Revenue rose 17 per cent from the previous quarter and increased from $7.7 billion a year earlier. Analysts had estimated revenue of $7.7 billion in the fourth quarter.
Motorola chairman and CEO Ed Zander welcomed the results and gave a pep talk about Motorola's potential. Since taking office on January 5, Zander has reviewed all the company's business sectors and met with employees and customers, he said.
"Motorola is more than a collection of discrete businesses. It's more than a bunch of acronyms," Zander said. The company can use its broad array of divisions to its advantage, he said.
Zander aims to cut costs within the company, improve branding, and to improve product quality and predictability in the handset business, he said, citing delays in availability of some new handsets in the quarter. Motorola now has three suppliers for some critical handset components, executives said on the call.
The company's semiconductor product business, which is set to be spun-off as an independent company, returned to profitability in the quarter.
For its full fiscal year, the company reported revenue of $27 billion, down slightly from about $27.3 billion in 2002.
Motorola's guidance for the first quarter of 2004 calls for revenue of $6.4 billion to $6.8 billion.