CHICAGO (AP) _ Motorola Solutions Inc. (MSI) on Thursday reported fourth-quarter net income of $244 million.
On a per-share basis, the Chicago-based company said it had net income of $1.39. Earnings, adjusted for one-time gains and costs, were $2.94 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.79 per share.
The communications equipment maker posted revenue of $2.38 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.37 billion.
For the year, the company reported profit of $868 million, or $4.95 per share. Revenue was reported as $7.89 billion.
For the current quarter ending in April, Motorola expects its per-share earnings to range from $1.30 to $1.35. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.36.
The company expects full-year earnings in the range of $8.65 to $8.80 per share.
Motorola shares have climbed 11% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 4%. In the final minutes of trading on Thursday, shares hit $178.98, a rise of 49% in the last 12 months.