Motorola Solutions reported first quarter revenues lifting 7 percent from the year earlier to USD 1.281billion, including Airwave, again beating expectations and reflecting growth in EMEA and the Americas. The company had guided for growth of 3-4 percent.
Looking forward, Motorola is guiding for a slower second quarter but has upped its full year forecast. Revenues for Q2 are now seen up 2-3 percent, with adjusted EPS at USD 0.98-1.03. For the full year, Motorola now expects revenue to lift 2 percent, compared to its previous outlook of 1-2 percent, and for adjusted EPS to go to USD 5.08-5.23, from its previous forecast of 5.05-5.20.
In Q1, revenues were 18 at the Services segment, including Airwave, while at Products they went unchanged. Revenues at Americas advanced 3 percent, boosted by strength at Services. The operating profit leaped 76 percent to USD 176 million, making up 13.7 percent of revenues, compared with 8.4 percent the year before. The net profit jumped to USD 77 million from 17 million with diluted earnings per share leaping 350 percent to USD 0.45. Adjusted earnings per share rose 37 percent to USD 0.71, also passing expectations.
The company generated USD 142 million in operating cash from continuing operations, up by USD 129 million the year before. Free cash flow was up USD 112 million to USD 74 million, with cash and cash equivalents at USD 829 billion at the end of the quarter.
Reports say the company is now working on a new 9 or 10 inch tablet, one which could have a "productivity mode," according to Cnet. This would allow apps to be pinned to the navigation bar for easy multitasking.
