Motorola Solutions, the maker of two-way radios and communications equipment, beat analyst expectations on revenue and earnings per share when it announced third-quarter results after the market closed Thursday.
Revenue for the quarter was $1.53 billion, beating average estimates of $1.52 billion. That included $131 million from public safety net provider Airwave, which it acquired earlier this year for $1.2 billion. Revenue in the third quarter of 2015 was $1.4 billion.
Motorola Solutions (NYSE: MSI) delivered earnings, excluding items, of $1.37 per share, up 67 percent compared to the year-ago quarter. Analysts had expected earnings of $1.21 per share.
For the fourth quarter, the company projected revenue of around $1.8 billion, an increase of 9 to 10 percent over the fourth quarter of 2015, it said. That will include $120 million from Airwave.
Motorola Solutions also expects earnings, excluding items, of $1.82 to $1.87 percent. Earnings were $1.58 per share in the fourth quarter of 2015.
The company projected revenue for the full year of $5.9 billion to $6 billion, an increase of 5 to 6 percent over the year-ago quarter. It issued earnings guidance of $4.67 to $4.72 per share.
In August, the company commenced a move from its longtime Schaumburg headquarters to the West Loop in Chicago, a shift intended to draw and keep top talent.
Shares traded nearly flat Thursday after the close at $71.29.
aelahi@tribpub.com
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