2024-03-20 03:24:32 ET
Summary
- Motorola Solutions reported strong Q4 FY23 results with 5% organic revenue growth and 5.8% adjusted operating profit growth.
- The APX NEXT replacement cycle continues to drive growth, with organic revenue rate around 10% in the post-pandemic period.
- The increasing mix towards software and services, accounting for 37.4% of total revenue, is expected to contribute to margin expansion and recurring growth.
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Motorola Solutions: APX NEXT Replacement Cycle Persists In FY 2024