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Medtronic: Fiscal 1Q Earnings Snapshot

August 21, 2018

DUBLIN (AP) — Medtronic PLC (MDT) on Tuesday reported fiscal first-quarter net income of $1.08 billion.

On a per-share basis, the Dublin-based company said it had net income of 79 cents. Earnings, adjusted for one-time gains and costs, were $1.17 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The medical device company posted revenue of $7.38 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $7.23 billion.

Medtronic shares have climbed 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 7 percent. The stock has increased nearly 8 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

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