Motorola Solutions Announces Results for 2021 Second Quarter
Monday, August 09, 2021 | Comments

Motorola Solutions announced its earnings results for the second quarter of 2021.

“Our Q2 results were outstanding, highlighted by strong double-digit growth in both segments," said Motorola CEO and Chairman Greg Brown. “The continued strong demand for our mission-critical technologies is driving our increased expectations for the full year.”

Sales for the quarter were $1.9 billion, compared to $1.6 billion in the prior year’s quarter. Operating earnings were $370 million compared to $218 million in the same quarter last year. Earnings per share were $1.69, up 117% from $0.78 in the same quarter for 2020.

The product and systems integration segment recorded sales of $1.19 billion, which were up 24% from the prior year quarter’s $968 million, and reported operating earnings of $139 million, which was up 184% from the $49 million it recorded in the same quarter last year.

Notable wins for the segment in the quarter were:
• A $37 million Project 25 (P25) upgrade order for the Kentucky State Police
• A $36 million P25 upgrade for a state in the U.S.
• A $30 million P25 order for the Metro Atlantic Rapid Transit Authority in Atlanta
• A $29 million P25 devices order for a large U.S. state and local customer
• A $5 million video security order, which was the largest single fixed video order for a U.S. federal government customer

The software and services segment recorded $773 million in sales in the second quarter of 2021, which was up 19% from the $650 million it recorded in the same quarter in 2020. Operating earnings for the segment were $231 million, compared to $169 million in the same quarter of 2020.

Notable wins for the segment in the quarter were:
• A $18 million French Ministry of Interior (MOI) body-worn camera frame agreement
• A $15 million license plate recognition software extension with a U.S. customer
• A $10 million P25 multi-year services extension for the state of Ohio
• $10 million P25 maintenance renewal with a U.S. federal customer

For the third quarter, Motorola expects revenue growth of approximately 10% compared to the third quarter of 2020. For the full year of 2021, the company expects revenue growth of 9.5% to 10%, up from the prior guidance of growth of 8% to 9%.

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