Motorola Solutions Inc. raised its outlook for 2019 as adjusted EPS and revenue in the second quarter beat analysts' expectations.
The company expects an adjusted EPS between $7.67 and $7.77 in 2019 on a non-GAAP basis, up from the prior guidance range of $7.60 to $7.72 announced along with its first-quarter results.
Motorola Solutions expects revenue growth of 7% to 7.5%, as opposed to the previous guidance of 6% to 7%.
The communications equipment firm's adjusted EPS came in at $1.69 in the second quarter from $1.46 in the year-ago period, exceeding the S&P Global Market Intelligence consensus normalized EPS estimate of $1.60.
Non-GAAP operating earnings climbed to $444 million in the three months ending June from $378 million in the year-ago period. Sales increased by 6% to $1.86 billion in the quarter from $1.76 billion in the prior-year period, topping the S&P Global Market Intelligence estimate of $1.84 billion.
Net earnings attributable to Motorola Solutions shareholders on a GAAP basis totaled $207 million, or $1.18 per share, in the second quarter, up from $180 million, or $1.05 per share, in the same period a year ago.
In the third quarter, Motorola Solutions expects 6.5% year-over-year revenue growth and a non-GAAP EPS range of $1.91 to $1.96.