Motorola: 3Q Earnings Snapshot
CHICAGO (AP) _ Motorola Solutions Inc. (MSI) on Wednesday reported third-quarter profit of $267 million.
The Chicago-based company said it had profit of $1.51 per share. Earnings, adjusted for one-time gains and costs, were $2.04 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The communications equipment maker posted revenue of $1.99 billion in the period, matching Street forecasts.
For the current quarter ending in December, Motorola expects its per-share earnings to range from $2.75 to $2.80. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.02.
The company expects full-year earnings in the range of $7.77 to $7.82 per share.
Motorola shares have risen 44% since the beginning of the year, while the Standard & Poor’s 500 index has increased 22%. In the final minutes of trading on Wednesday, shares hit $165.36, a rise of 39% in the last 12 months.