Motorola Solutions Raises Outlook for 2019

   By Micah Maidenberg

Motorola Solutions Inc. (MSI) beat Wall Street targets in the second quarter and raised its sales guidance for the year.

The Chicago-based provider of portable radios, software and other types of communications technology products on Thursday reported $1.86 billion in sales for the quarter, up 6% compared with last year. Analysts polled by FactSet predicted $1.85 billion in sales.

Motorola said profit rose to $207 million, or $1.18 a share, up from $180 million, or $1.05 a share, a year earlier.

Excluding stock-based compensation and after other adjustments, Motorola's profit of $1.69 a share surpassed the $1.60 a share analysts had forecast.

Motorola also said Thursday it now expects revenue growth of 7% to 7.5%. Previously, its outlook predicted sales growth of approximately 6 to 7%

The company also raised its guidance for adjusted profit to $7.67 to $7.77 a share, up $7.60 to $7.72.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

August 01, 2019 16:36 ET (20:36 GMT)

Motorola Solutions (NYSE:MSI)
Historical Stock Chart
From Apr 2024 to May 2024