Motorola said it repurchased 33.7 million shares for $557 million in the quarter. Since the implementation of its first repurchase programme in 2005, the company has bought back a total of 385 million shares for $7.7 billion. Motorola has $3.8 billion remaining under its current share repurchase authorisation.

Earnings Guidance

In the current quarter, Motorola said it expects a loss per share in the range 5 cents to 7 cents, excluding charges.

Analysts'' are looking for earnings of 10 cents a share on $9 billion in revenue.

Motorola said it will cut costs, and ensure the mobile business returns to profitability. Chief executive, Greg Brown said the technology firm will save $500 million from the cost cutting measures, he told a conference call Wednesday.

''The recovery in Mobile Devices will take longer than expected and there is a lot more work to be done,” he said.

“Our primary focus is on improving profitability and enhancing our product portfolio in this business. At the same time, we are very pleased with the continued strong performance of our Home and Networks Mobility and Enterprise Mobility Solutions businesses.”

Share Price Review

Motorola shares fell 18.91% or $2.32 to $9.98 in morning trade Wednesday. The stock has lost more than 50% since October 2006. Over the past 52 weeks, the share has traded in the range $11.55 to $19.98.