Motorola: 2Q Earnings Snapshot
CHICAGO (AP) _ Motorola Solutions Inc. (MSI) on Thursday reported second-quarter earnings of $180 million.
The Chicago-based company said it had net income of $1.05 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $1.46 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The communications equipment maker posted revenue of $1.76 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.71 billion.
For the current quarter ending in October, Motorola expects its per-share earnings to range from $1.67 to $1.72. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.76.
The company expects full-year earnings in the range of $6.79 to $6.89 per share.
Motorola shares have risen 35 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 6 percent. In the final minutes of trading on Thursday, shares hit $121.57, a climb of 34 percent in the last 12 months.