The loss was only 1 cent per share which beat the overall average estimates ofÂ 4 cents analysts expected.Â Revenue continued to fall, this time dropping 32% to $5.5 billion.
Cost cuts are starting to work their way into the financials.Â Â Sustainable profitability will still require a successful handset refresh. – Tavis McCourt, an analyst at Morgan Keegan & Co.
After cutting 7,000 jobs over the last 10 months it seems as if the financial ship is being righted.Â Hopefully, Android helps return them to profitability by year end!Â The platform should bring the ‘handset refresh’ they need.
Also coming in higher than expected were handset shipments.Â There was a slight increase from 14.7 million in the first quarter to 14.8 million.