Motorola Solutions, Inc. (MSI) delivered impressive third-quarter financial results, surpassing analyst estimates on both earnings and revenue. The company reported earnings per share of $3.74, exceeding the consensus estimate of $3.38. Revenue for the quarter reached $2.79 billion, outperforming the anticipated $2.76 billion. This strong performance sparked a surge in the company’s stock price, which gained 6.8% to trade at $501.80 on Friday.
“Our third-quarter results were exceptional, with record Q3 revenue, earnings and cash flow,” said Greg Brown, chairman and CEO of Motorola Solutions. “We achieved strong growth across the board, and I’m pleased with the momentum of our business. As a result, we’re again raising our revenue and earnings expectations for the full year.”
Following the positive earnings announcement, analysts revised their price targets on Motorola Solutions. Raymond James analyst Adam Tindle maintained an “Outperform” rating on the stock and increased the price target from $425 to $515. Barclays analyst Tim Long also maintained an “Overweight” rating and raised the price target from $467 to $529.
The impressive performance across all segments of Motorola Solutions’ business is driving the company’s robust growth and optimistic outlook. This positive momentum, coupled with analyst confidence, positions Motorola Solutions for continued success in the coming year.
