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Motorola Solutions expects third-quarter revenue below estimates
July 25, 2012 / 11:14 AM / 5 years ago

Motorola Solutions expects third-quarter revenue below estimates

(Reuters) - Motorola Solutions Inc’s (MSI.N) quarterly profit missed Wall Street estimates, hurt by lower demand at its enterprise business, and the communications equipment maker forecast third-quarter revenue below expectations.

The company expects revenue to grow 3 percent in the third quarter, implying sales of about $2.16 billion.

Motorola Solutions expects earnings from continuing operations of between 69 cents and 74 cents per share.

Analysts on average were expecting revenue of $2.20 billion in the third quarter, according to Thomson Reuters I/B/E/S.

Net earnings rose to $182 million, or 61 cents per share, for the second quarter, from $349 million, or $1.00 per share, a year earlier.

Excluding items, the company earned 70 cents from continuing operations.

Quarterly revenue at the company, which dominates the two-way radio market with its land-mobile-radio systems and walkie-talkies used by the police, rose 8 percent to $2.14 billion.

Analysts had expected earnings of 69 cents per share on revenue of $2.11 billion.

Motorola Solutions’ shares, which have risen 15 percent since Motorola Inc split into Motorola Mobility and Motorola Solutions in January 2011, closed at $45.29 on Tuesday on the New York Stock Exchange.

(This story has corrected headline, first and second paragraphs to clarify that third-quarter revenue forecast missed, not beat, analysts’ expectations)

Reporting by Chandni Doulatramani in Bangalore; Editing by Supriya Kurane

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