Motorola: 4Q Earnings Snapshot
CHICAGO (AP) _ Motorola Solutions Inc. (MSI) on Thursday reported fourth-quarter net income of $423 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had net income of $2.44. Earnings, adjusted for one-time gains and costs, were $2.63 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The communications equipment maker posted revenue of $2.25 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.22 billion.
For the current quarter ending in April, Motorola expects its per-share earnings to range from $1.11 to $1.16. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1. 3.
The company expects full-year earnings in the range of $7.55 to $7.70 per share.
Motorola shares have climbed 3 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 8 percent. In the final minutes of trading on Thursday, shares hit $118.62, a rise of 16 percent in the last 12 months.
By The Associated Press, Copyright 2019