Motorola Solutions, a leading communications company, has announced higher revenue and earnings for the fourth quarter of the fiscal year. This growth is attributed to successful acquisitions and robust demand for the company's software and services.

Financial Highlights

  • Earnings for the fourth quarter ended December 31 reached $595 million, or $3.47 per share, compared to $589 million, or $3.43 per share, in the previous year.
  • Adjusted earnings came in at $3.90 per share, surpassing analysts' estimates of $3.63 per share.
  • Sales rose to $2.8 billion from $2.7 billion, meeting expectations set by analysts.

Backlog and Future Projections

Despite a slight decrease of $88 million from the year-ago quarter, Motorola Solutions closed the quarter with a backlog of $14.3 billion.

Looking ahead to 2024, the company has set its sights on a net sales growth target of 6%. It also expects adjusted earnings per share to fall within the range of $12.62 to $12.72. This projection exceeds analysts' predictions of approximately 5.6% sales growth and adjusted earnings of $12.64 per share, according to FactSet.

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