The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Tomer Zilberman - BofA Securities, Research Division - Analyst
: Just the first one for me, so your revenue outperformance this quarter versus Street expectations really shone through LMR and
command center. But it looks like you fell a little bit short on video product and SI. Can you talk about the weakness there? What
drove the 5% growth this quarter?
Question: Tomer Zilberman - BofA Securities, Research Division - Analyst
: Got it. And if I can just follow up. In terms of your 4Q and your fiscal guidance, I'm sure this is just something more with language
than anything. Your 4Q guidance of 4% implies the higher end of your revamped fiscal guidance, while the low end of your fiscal
guidance would imply around 3.5% growth for 4Q. So can you just talk about what could happen that would draw that incremental
0.5 point weakness?
Question: Joseph Lima Cardoso - JPMorgan Chase & Co, Research Division - Analyst
: I actually just want to follow up on the APX NEXT comment and the momentum you're seeing there in combo with the LMR growing
mid-single digits. We're just coming up against some quarters with tough compares. So I just wanted to -- just curious or maybe it's
more of a clarification, if you think that mid-single-digit growth is sustainable even on top of the difficult compares over the next
couple of quarters? And then I have a follow-up.
Question: Joseph Lima Cardoso - JPMorgan Chase & Co, Research Division - Analyst
: Got it. That's great. And then my follow-up actually on free cash flow. You had another solid quarter here. It appears that tailwinds
are materializing, example being the elevated levels of inventories that we've seen over the past couple of quarters, that's coming
down a bit. I guess if we take a step back and we're starting to cycle past some of the choppy free cash flow generation we've seen
over the past couple of quarters, just given kind of that dynamic macro environment and returning more to a consistency type of
level we've seen in the past relative to conversions, any thoughts on whether the level of shareholder return can be maintained or
accelerated going forward, just given working capital, improving the momentum behind the business, et cetera?
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NOVEMBER 02, 2023 / 9:00PM, MSI.N - Q3 2023 Motorola Solutions Inc Earnings Call
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