Motorola exceeded analysts’ predictions by reporting strong financial results fuelled by a boost in mobile phone sales.

Net income at the mobile devices manufacturer during the second quarter reached a gain of $4m (£2m), or breakeven per share, from a loss of $28m (£14m), or one cent per share in the same period last year.

It is understood that Motorola is to retain its mobile phone business and spin off other units, since the company announced it will restructure its home and networks unit into three divisions producing TV set-top boxes, cable modems and mobile network equipment. The spinoff is likely to happen in the third quarter of next year.

Additionally, Motorola chief executive Greg Brown has reportedly said that the company is actively looking for a CEO for the mobile phone division.

“In the mobile devices segment, we launched ten new products and maintained market share, compared with the first quarter, while continuing to invest in our product portfolio,” said Brown.

“We also made progress on our plans to separate Motorola into two independent, publicly traded companies, generated positive operating cash flow and reduced our cost structure.”