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S&P 500 (NYSE:SPY) component Motorola Solutions Inc. (NYSE:MSI) reported its results for the first 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 Earnings Cheat Sheet for the First Quarter
Results: Net income for Motorola Solutions Inc. fell to $157 million (50 cents per share) vs. $497 million ($1.07 per share) a year earlier. This is a decline of 68.4% from the year-earlier quarter.
Revenue: Rose 6.7% to $1.96 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Motorola Solutions Inc. reported adjusted net income of 59 cents per share. By that measure, the company beat the mean estimate of 47 cents per share. Analysts were expecting revenue of $1.93 billion.
Quoting Management: “Motorola Solutions had a great start to the year by posting record first-quarter sales and operating earnings while also returning approximately $1.4 billion to shareholders,” said Greg Brown, chairman and CEO.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 4 cents in the fourth quarter of the last fiscal year, by 2 cents in the third quarter of the last fiscal year, and by 13 cents in the second quarter of the last fiscal year.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from 59 cents a share to 61 cents over the last ninety days. The average estimate for the fiscal year is $2.73 per share, a rise from $2.57 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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