Motorola Solutions said net sales for Q1 2024 rose to $2.4 billion from $2.2 billion a year earlier, and operating earnings rose to $519 million from $399 million.

1. 01

   Motorola Solutions said net sales for Q1 2024 rose to $2.4 billion from $2.2 billion a year earlier, and operating earnings rose to $519 million from $399 million.

2. 02

   The company said it posted a net loss attributable to Motorola Solutions, Inc. of $39 million ($(0.23) per diluted share) in Q1. It also said it extinguished $1.0 billion of Silver Lake Convertible Debt for $1.59 billion in cash and recognized a $585 million extinguishment loss in Other, net.

3. 03

   The company said that on March 13, 2024, it received notice from the UK Home Office extending the national shutdown target date for Airwave services from December 31, 2026 to December 31, 2029. It said it recorded additional backlog of $748 million for the incremental 3 years of services.

4. 04

   The company said operating cash flow for Q1 2024 was $382 million, compared with $8 million used in the same period a year earlier. It also said that during the same quarter it repurchased $39 million of common stock and paid $163 million in dividends.

Key figures

Quarter ended March 30, 2024

Revenue

$2.4B

Operating income

$519M

Net income

−$39M

EPS

−$0.23

Gross profit

$1.2B

Operating cash flow

$382M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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