Motorola Solutions tops Street 3Q forecasts
Motorola Solutions Inc. (MSI) on Wednesday reported third-quarter net income of $115 million.
The Schaumburg-based company said it had net income of 57 cents per share. Earnings, adjusted for asset impairment costs and stock option expense, came to 82 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The communications equipment maker posted revenue of $1.42 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.41 billion.
For the current quarter ending in December, Motorola expects its per-share earnings to range from $1.45 to $1.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.55.
Motorola shares have climbed slightly more than 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5 percent. The stock has risen 10 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSI at http://www.zacks.com/ap/MSI
Keywords: Motorola, Earnings Report