Motorola Solutions profit beats estimates
Communications equipment maker Motorola Solutions Inc
The maker of equipment such as two-way radios used by the police and handheld computing devices used in retail stores expects second-quarter revenue to grow about 6 percent, implying revenue of $2.10 billion.
It expects an adjusted profit of 65 cents to 70 cents per share from continuing operations, compared with analysts' expectations of 68 cents per share, according to Thomson Reuters I/B/E/S.
Motorola Inc split in two in January 2011 to form Motorola Solutions and Motorola Mobility
Net income for the first quarter, however, fell more than two-thirds to $157 million, or 49 cents per share.
Excluding items, the company, which competes with Cisco Systems Inc
Government segment sales, which accounts for two-thirds of total revenue, rose to $1.3 billion. Total revenue rose 7 percent to $1.96 billion.
Analysts expected an adjusted profit of 54 cents per share, on revenue of $1.93 billion.
The company's shares, which closed at $48.66 on Tuesday on the New York Stock Exchange, have risen 22 percent since the split.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Roshni Menon)
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