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Motorola Raises Full-Year Guidance on Stable Demand
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Motorola Raises Full-Year Guidance on Stable Demand

Enterprise safety and security services provider Motorola Solutions raised its full-year revenue and profit forecast on Thursday, as customers turn to the company for its security-focused telecommunications products.

Shares of the company rose more than 2.5 percent in extended trading.

Efforts by government agencies and companies to strengthen security and communications infrastructure and prevent disruptions to operations caused by cyberattacks have benefited Motorola.

Motorola provides essential communications equipment such as walkie-talkies, video surveillance cameras and software solutions, helping the communities that governments and businesses serve in times of emergency.

The US Government and UK Headquarters are Motorola Solutions’ largest customers.

The Chicago-based company expects revenue growth of 8.25 percent for fiscal 2024, up from its prior guidance of around 8 percent. It forecast adjusted earnings per share in the range of $13.63 to $13.68, also up from its prior forecast of $13.22 to $13.30 per share.

Motorola’s revenue for the third quarter ended September 28 was $2.79 billion, while adjusted earnings were $3.74 per share. Those numbers compare with analysts’ estimates of revenue of $2.76 billion and adjusted earnings of $3.38 per share, according to data compiled by LSEG.