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Medtronic: Fiscal 3Q Earnings Snapshot

February 19, 2019

DUBLIN (AP) — Medtronic PLC (MDT) on Tuesday reported fiscal third-quarter net income of $1.27 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dublin-based company said it had net income of 94 cents. Earnings, adjusted for one-time gains and costs, were $1.29 per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The medical device company posted revenue of $7.55 billion in the period, which met Street forecasts.

Medtronic expects full-year earnings in the range of $5.14 to $5.16 per share.

Medtronic shares have climbed slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 11 percent. The stock has risen 11 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDT at https://www.zacks.com/ap/MDT