Motorola Solutions Revenue Rises 4.5%

Motorola Solutions Inc. said its second-quarter revenue increased 4.5% with a boost from its acquisition of Airwave Solutions Ltd. this year.

The board also approved the repurchase of an additional $2 billion of its shares. At the end of the latest quarter, $400 million remained under the company's previous $12 billion stock-buyback program.

Revenue increased to $1.43 billion from $1.37 billion. The company had expected revenue growth of between 1% and 2%.

During the latest period, the company's Airwave acquisition contributed revenue of $146 million, above expectations for about $130 million.

Motorola Solutions acquired Airwave for roughly £ 700 million ($1 billion) in February, expanding its emergency-communications-services business in the U.K.

The Chicago company is what remains of Motorola Inc., the wireless communications pioneer that has been dismantled over recent years. Motorola Solutions focuses on public-safety systems, including two-way radios used by police officers and others.

Over all, Motorola Solutions reported a profit of $107 million, or 61 cents a share, down from $142 million, or 68 cents a share, a year earlier. Excluding stock-based compensation, acquisition-related charges, business reorganization-related charges and other items, adjusted per-share earnings from continuing operations rose to $1.03 from 68 cents.

The company expected adjusted per-share earnings of 82 cents to 88 cents.

Motorola Solutions, which affirmed its 2016 guidance, projected adjusted per-share earnings of $1.17 to $1.22 for the third quarter, on revenue growth of 6% to 7%. Analysts polled by Thomson Reuters expected per-share profit of $1.25 and a revenue increase of 8%.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

August 04, 2016 17:55 ET (21:55 GMT)

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