Motorola Solutions Raises Outlook for 2019
August 01 2019 - 4:51PM
Dow Jones News
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)
Copyright (c) 2019 Dow Jones & Company, Inc.
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