[The Next Web] Google’s Q4 earnings hurt by Motorola’s $384 million loss, resulting in $1.245 billion in the red for 2013

Google today reported its earnings for its fiscal fourth quarter of 2013, including results that show its Motorola business continues to bleed money at an alarming rate. This time, the Google-owned hardware company lost $384 million.

As a result, this means Motorola saw losses of $1.245 billion in Google’s fiscal year of 2013. The sums are as follows: $271 million + $342 million + $248 million + $384 million.

In 2012, Motorola’s losses amounted to $1.113 billion. That being said, Google only completed its acquisition in Q2 2012, so it’s not a complete comparison.

With the news that Google is selling Motorola to Lenovo, investors will be eagerly awaiting the deal’s closure. Unfortunately, neither of the two companies have offered guidance on when they expect the business to switch hands. Google will be taking a hit from at least one more quarter of Motorola losses.

Motorola is in a situation that will be very difficult to recover from. Despite its attempts with the Moto X and Moto G, not to mention the Droid line, it can’t seem to sell enough devices to turn a profit. Lenovo will have a tough time to do what Google couldn’t.

More to follow.

via The Next Web http://ift.tt/1aKWjqG