Motorola Solutions Earnings: Another Quarter of FALLING Net Income
S&P 500 (NYSE:SPY) component Motorola Solutions Inc. (NYSE:MSI) reported its results for the second quarter. Motorola Solutions provides technologies, products, and services, including wireless handsets, digital entertainment devices, wireless accessories, set-top boxes, and video distribution systems.
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Motorola Solutions Inc. Earnings Cheat Sheet
Results: Net income for Motorola Solutions Inc. fell to $182 million (61 cents per share) vs. $347 million ($1 per share) a year earlier. This is a decline of 47.6% from the year-earlier quarter.
Revenue: Rose 8.3% to $2.15 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Motorola Solutions Inc. fell short of the mean analyst estimate of 62 cents per share. Analysts were expecting revenue of $2.11 billion.
Quoting Management: Greg Brown, chairman and CEO of Motorola Solutions, said: “Our strong revenue and earnings growth continues to demonstrate the strength and resiliency of our business. We also are pleased to continue to return capital to our shareholders through an increased dividend and expanded share repurchase program.
The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by 3 cents, and in the fourth quarter of the last fiscal year, it was ahead by 4 cents.
Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from 70 cents per share to 69 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past three months, the average estimate for the fiscal year has climbed from $2.73 per to share to $2.76.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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