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Motorola Solutions profit misses consensus by 17.1% in Q3

Motorola Solutions Inc. said its third-quarter normalized net income came to $1.16 per share, compared with the S&P Capital IQ consensus estimate of $1.40 per share.

EPS climbed 7.5% year over year from $1.08.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $196.5 million, a gain of 7.2% from $183.4 million in the third quarter ended Oct. 1, 2016.

The normalized profit margin fell to 11.9% from 12.0% in the year-earlier period.

Total revenue climbed 7.4% year over year to $1.65 billion from $1.53 billion, and total operating expenses rose 7.9% from the prior-year period to $1.28 billion from $1.18 billion.

Reported net income grew 10.2% from the prior-year period to $211.3 million, or $1.25 per share, from $191.6 million, or $1.13 per share.