Aug 5 (Reuters) – Motorola Solutions raised its full-year revenue outlook above Wall Street estimates, betting on strong demand for public safety communications equipment and software.
The company, which makes radio communication equipment, 911 emergency call handling software, and body cameras widely used by law enforcement agencies, has benefited from strong demand from U.S. public safety agencies, with the D-Fend acquisition extending its capabilities into counter-drone technology.
Here are some details:
• Motorola forecast annual revenue of about $12.98 billion versus its guidance of $12.8 billion earlier. Analysts estimate revenue of $12.8 billion, according to LSEG data.
• It expects third-quarter revenue growth of about 8% with adjusted earnings per share of $4.39 to $4.44, compared with analysts’ estimate of $4.41 per share.
• Revenue for the second quarter ended July 4 came in at $3.13 billion, topping market expectations of $3 billion.
• The quarter benefited from $60 million, or $0.25 per share, in tariff refunds.
• The company ended the second quarter with a record backlog of $15.6 billion.
• It also updated its annual adjusted earnings guidance to $17.62 to $17.72 per share from $16.87 to $16.99 per share previously, above analysts’ average estimate of $16.98 per share.
(Reporting by Nithyashree R B in Bengaluru; Editing by Diti Pujara)
