Given those at Motorola Mobility are already predicting a sticky third quarter, the company's net loss of $56 million in Q2 2011 does not make for happy reading.

Said figure is down from the $80 million profit Motorola posted in the same quarter last year, and company CEO and chairman Sanjay Jha has claimed it won't return to profit until the fourth quarter.

Delays to the launch of the firm's fresh range of handsets are likely to result in a sparse Q3, with smartphone shipments of 4.4 million in Q2 representing less than half of the 11 million devices that made it to shop shelves throughout the corner.

Revenue rise

Commentators have been quick to label Q2 as disappointing rather than disastrous, however. Net revenues actually rose by 28 percent year on year, hitting $3.3 billion.

Revenue specifically from mobile devices was also up by 41 percent to $2.4 billion.

Nonetheless, the firm's debut tablet – the Motorola Xoom – continues to suffer a sluggish start.

Shipments rose to 440,000 units compared to the 250,000 in Xoom's first quarter, but with a total of 690,000 devices shipped (and not necessarily sold), Motorola isn't making much of a dent on iPad's lead.

In comparison, Apple shipped 9.25 million iPads in its most recent quarter.

"With a focus on profitable growth and delivering differentiated LTE smartphones and tablets, we expect to achieve profitability in Mobile Devices in the fourth quarter and for the full year 2011," added Jha.

Total cash at the end of the quarter – including cash, cash equivalents and cash deposits - was $3.2 billion. Operating cash flow for the quarter was breakeven.