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.