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Motorola Solutions Lifts FY21 Outlook

Motorola Solutions Inc. (MSI) on Thursday raised its fiscal 2021 outlook. The company now expects revenue growth of 9.5-10 percent, up from the earlier projected growth of 8-9 percent.

Adjusted earnings per share is now expected between $8.88 and $8.98, higher than the previous $8.70-$8.80 range. On average, 14 analysts polled by Thomson Reuters expect the company to report earnings of $8.8 per share.

In the third quarter, Motorola expects adjusted earnings per share between $2.09 and $2.14 while analysts are looking for earnings of $2.1 per share. Revenue growth of around 10 percent is also anticipated for the three-month period.

In the second quarter, the company's bottom line came in at $294 million, or $1.69 per share. This compares with $136 million, or $0.78 per share, in last year's second quarter.

Analysts had expected the company to earn $1.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

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