Motorola Solutions (MSI, Financial) contributed to performance during the quarter. The Company generated +9% revenue growth and reported +19% growth in its backlog during the quarter. Motorola offers critical services to its public safety and corporate customers and has operated Land Mobile Radio (LMR) networks for decades, which requires numerous software updates and constant cybersecurity support. This long-term work is often included into backlog. Further, the Company has amassed a suite of software offerings that manage public safety emergency and 911 call center workflows. We expect Motorola’s core public safety market to continue adopting these software and service solutions that drive higher productivity in the face of chronic labor shortages.
From David Rolfe (Trades, Portfolio)'s Wedgewood Partners third-quarter 2022 shareholder letter.
