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Zebra Technologies beats expectations, raises full-year forecast on demand recovery
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Zebra Technologies beats expectations, raises full-year forecast on demand recovery
Jul 30, 2024 4:40 AM

July 30 (Reuters) - Barcode scanner maker Zebra

Technologies ( ZBRA ) beat second-quarter results estimates and

raised full-year forecast on Tuesday, helped by a steady

recovery in demand for its hardware and software services and

products.

The company is benefiting from a growth in ecommerce

activity in the retail sector, its largest client, as inventory

of its mobile computing clears and new orders see an uptick. The

company also sees a revival in the healthcare, manufacturing and

logistics sectors.

Zebra Technologies ( ZBRA ) reported quarterly revenue of $1.22

billion, beating estimates of $1.18 billion, according to LSEG

data.

The company has raised its 2024 forecast for sales growth to

be between 4% and 7%, from the earlier expectation in the range

between 1% and 5% growth compared with 2023.

Revenue from its mobile computing and data capture solutions

segment rose 8.6% to $820 million in the second quarter compared

with a year earlier.

"We returned to growth in enterprise mobile computing across

all our vertical end markets and delivered another quarter of

sequential improvement in profitability," said Bill Burns, CEO

of Zebra Technologies ( ZBRA ).

On an adjusted basis, the company earned $3.18 per share,

ahead of estimates of $2.81 per share.

Zebra Technologies ( ZBRA ) forecast third-quarter net sales to grow

between 25% and 28% compared with a year earlier.

Zebra Technologies ( ZBRA ) provides IT solutions, hardware products

such as mobile computers and barcode scanners, and software

services to various sectors including healthcare, logistics,

retail and education.

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