Motorola Solutions raises full-year revenue view after strong quarter, shares rise

(Reuters) - Motorola Solutions raised its revenue and profit forecast for the full-year after posting better-than-expected quarterly results on Thursday, sending its shares up 3% in extended trading.

The company also forecast second-quarter top and bottomline above Wall Street's expectations, signaling robust demand for its security-focused telecommunication products.

Motorola has benefited from a push from government bodies and companies to bolster their security and communication equipment to avoid disruptions to their businesses from any kind of attacks.

The Chicago, Illinois-based company provides critical communications gear such as walkie-talkies, video surveillance cameras and software services to government agencies and businesses.

The U.S. government and home office of the United Kingdom are its biggest customers.

Motorola now expects full-year 2024 revenue to grow above 7% and sees adjusted per share earnings in the range $12.98 and $13.08. It had earlier forecast about 6% revenue growth and per share profit of $12.62 to $12.72.

In the current-quarter ending June, Motorola expects revenue to grow 7% to 8%, compared with analysts' average estimate of 5.9% growth, according to LSEG data. Forecast adjusted earnings per share of $2.97 to $3.02 are also above expectation of $2.91.

Company's sales for quarter ended March grew 10% to $2.40 billion above estimates of $2.35 billion, and adjusted profit was 28 cents above estimates at $2.81 per share.

(Reporting by Juby Babu and Yuvraj Malik; Editing by Mohammed Safi Shamsi)