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Wednesday, Jul 24
Motorola Solutions (MSI -9.8%) falls hard after providing soft guidance to go with mixed Q2...
Motorola Solutions (MSI -9.8%) falls hard after providing soft guidance to go with mixed Q2 results. The company expects Q3 revenue to be flat to -3% Y/Y, and EPS of $0.97-$1.02, below a consensus for 4.7% growth and $1.25. The guidance overshadows a 19% hike in the networking hardware firm's dividend to $0.31/share (yield is now at 2.3%), and a new $2B buyback authorization (available funds now at $2.5B). A 5% Y/Y drop in enterprise sales (-12% exc. the Psion purchase) pressured Q2 results. Government sales (69% of revenue) fell 1% after rising 3% in Q1. Enterprise op. margin fell 410 bps Y/Y to 11.9%, government op. margin rose 120 bps to 17.6%. (PR)