CHICAGO (AP) — CHICAGO (AP) — Motorola Solutions Inc. (MSI) on Thursday reported first-quarter profit of $278 million.
The Chicago-based company said it had profit of $1.61 per share. Earnings, adjusted for one-time gains and costs, were $2.22 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.06 per share.
The communications equipment maker posted revenue of $2.17 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.12 billion.
For the current quarter ending in June, Motorola expects its per-share earnings to range from $2.49 to $2.54. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.43.
The company expects full-year earnings in the range of $11.21 to $11.29 per share, with revenue ranging from $9.73 billion to $9.78 billion.
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