Motorola betters forecasts

 

SHARES in Motorola jumped after the maker of computer chips, cellular telephones and other electronic gear reported surprisingly strong earnings for the first quarter. Motorola employs 1,300 people at its plant in Swords, Co Dublin.

Other chip makers' stocks also rose on hopes that the industry may be bottoming out.

Motorola said its first quarter earnings rose 3 per cent to $384 million, or 63 cents a share, which exceeded analysts' forecasts for earnings of 57 cents a share.