Motorola Solutions forecast full-year adjusted profit below expectations on Thursday, taking the sheen off strong results and additional stock buyback, sending its shares down 5% in choppy trading after the bell.<\/p>\n
The telecommunication equipment company said it expects 2024 adjusted profit of $12.62 to $12.72 per share. The mid-point of the range was 1 cent below expectations of $12.68 per share.<\/p>\n
Its forecast of about 6% revenue growth this year was slightly higher than the 5.7% analysts’ expectations, according to LSEG data.<\/p>\n
The Chicago, Illinois-based company provides critical communications gear such as walkie-talkies, video surveillance cameras and software services to help communities served by governments and businesses during emergencies.<\/p>\n
Motorola’s revenue rose 5% to $2.85 billion in the fourth-quarter, driven by growth in North America and International markets. The figure came in higher than estimates of $2.82 billion.<\/p>\n
Adjusted per share profit of $3.90 handily beat expectations of $3.63.<\/p>\n
The company said it had expanded its share buyback authorization by $2 biliion. Last year, it repurchased $804 million worth of company stock and paid $589 million in dividends.<\/p>\n
The U.S. government and home office of the United Kingdom are the largest customers of Motorola Solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"
Motorola Solutions forecast full-year adjusted profit below expectations on Thursday, taking the sheen off strong results and additional stock buyback, sending its shares down 5% in choppy trading after the bell. The telecommunication equipment company said it expects 2024 adjusted profit of $12.62 to $12.72 per share. The mid-point of the range was 1 cent below expectations of $12.68 per share. Its forecast of about 6% revenue growth this year was slightly higher than the 5.7% analysts’ expectations, according to LSEG data. The Chicago, Illinois-based company provides critical communications gear such as walkie-talkies, video surveillance cameras and software services to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-800876","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/800876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=800876"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/800876\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=800876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=800876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=800876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}