S&P 500 (NYSE:SPY) component Motorola Solutions, Inc. (NYSE:MSI) reported net income above Wall Street’s expectations for the second quarter. Motorola Solutions Inc provides technologies, products and services, including wireless handsets, digital entertainment devices, wireless accessories, set-top boxes and video distribution systems.
Motorola Solutions Earnings Cheat Sheet for the Second Quarter
Results: Net income for the communication equipment company rose to $170 million (17 cents per share) vs. $161 million in the same quarter a year earlier. This marks a rise of 6% from the year earlier quarter.
Revenue: Rose 6% to $2.06 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: MSI reported adjusted net income of 57 cents per share. By that measure, the company beat the mean estimate of 44 cents per share. Analysts were expecting revenue of $2.03 billion.
Quoting Management: Greg Brown, chairman and CEO of Motorola Solutions, said: “Our solid revenue growth and improved operating leverage further demonstrate the strength of our business. Based on this performance, we have raised our full year outlook. Additionally, the dividend and share repurchase program reinforce our commitment to return capital to shareholders while maintaining strategic flexibility.”
The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 46 cents versus a mean estimate of net income of 27 cents per share.
Competitors to Watch: Nokia Corporation (NYSE:NOK), Siemens AG (NYSE:SI), Motorola Mobility Hldgs. Inc (NYSE:MMI), Polycom, Inc. (NASDAQ:PLCM), Cisco Systems, Inc. (NASDAQ:CSCO), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), EMS Technologies, Inc. (NASDAQ:ELMG), Harris Corporation (NYSE:HRS), CalAmp Corp. (NASDAQ:CAMP).
(Source: Xignite Financials)