Motorola announced its Q2 financial results today. These include sales of $5.4 billion. The company shipped 2.7 million smartphones during the quarter, but mobile device sales were down 6% from the previous year.

Other highlights include:

– Second-quarter GAAP earnings of $0.07 per share, compared to GAAP earnings of $0.01 per share in second quarter 2009; non-GAAP earnings per share* of $0.09 compared to earnings of $0.03 per share in second quarter 2009

– Total cash** of $8.3 billion; completed $500 million debt tender offer

– Enterprise Mobility Solutions sales of $1.9 billion; GAAP operating earnings of $181 million; non-GAAP operating earnings of $292 million

– Mobile Devices sales of $1.7 billion; shipped 8.3 million handsets, including 2.7 million smartphones; GAAP operating earnings of $87 million; non-GAAP operating loss of $109 million

– Networks sales of $967 million; GAAP operating earnings of $178 million; non-GAAP operating earnings of $191 million

– Home sales of $886 million; GAAP operating earnings of $29 million; non-GAAP operating earnings of $57 million

– Announced sale of majority of Networks business to Nokia Siemens Networks

"In the second quarter, our Enterprise Mobility Solutions and Networks businesses continued to deliver best-in-class market leadership and financial returns, with strong operating earnings and excellent cash generation," said Greg Brown, Motorola co-CEO and CEO of Motorola Solutions.

"In addition, last week, we announced that Nokia Siemens Networks will acquire the majority of our Networks business. We are very proud of the operational and financial performance of our Networks business and are excited to have reached this agreement to combine our Networks team with such an industry leader," Brown continued. "This is great news for our customers, our investors and our people and will allow us to sharpen our strategic focus on providing mission-and business-critical solutions for our government, public safety and enterprise customers."

"The Droid X launch has been very well received and is seen as one of the best smartphones in the market today with a 4.3 inch high-resolution display, Adobe flash and an 8 megapixel camera. As we continue to execute on our business strategy, we are in a strong position to continue improving our share in the rapidly growing smartphone market and improving our operating performance," added Sanjay Jha, Motorola co-CEO and CEO of Motorola Mobility. "The Mobile Devices and Home businesses remain focused on developing next-generation products to capitalize on the convergence of mobile experiences and home entertainment."

More details about Motorola’s second quarter can be found here.