Thursday, August 6, 2020 4:58 PM EST
By The Associated Press
CHICAGO (AP) _ Motorola Solutions Inc. (MSI) on Thursday reported second-quarter earnings of $135 million.
The Chicago-based company said it had net income of 78 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were $1.39 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The communications equipment maker posted revenue of $1.62 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.57 billion.
For the current quarter ending in October, Motorola expects its per-share earnings to range from $1.72 to $1.78. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.69.
The company expects full-year earnings in the range of $7.40 to $7.52 per share.
Motorola shares have declined 11% since the beginning of the year, while the Standard & Poor's 500 index has increased almost 4%. In the final minutes of trading on Thursday, shares hit $144, a decline of 16% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MSI at https://www.zacks.com/ap/MSI