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Medtronic Updates Fiscal 2019 Revenue Growth, EPS Guidance - Quick Facts

Medtronic plc (MDT) announced, for fiscal 2019, the company increased implied constant currency non-GAAP EPS growth forecast to a range of 9 to 10 percent from a range of 8 to 9 percent. The company maintained non-GAAP EPS guidance in the range of $5.10 to $5.15.

For fiscal 2019, the company increased organic revenue growth guidance to a range of 4.5 to 5.0 percent from a range of 4.0 to 4.5 percent. If recent exchange rates hold for the remainder of the fiscal year, fiscal 2019 revenue would be negatively affected by approximately $420 million to $520 million.

For the first-quarter, non-GAAP net income and diluted EPS were $1.601 billion and $1.17, respectively, both increases of 4 percent. Adjusting for the divestiture and a positive 5 cent impact from foreign currency, first quarter non-GAAP EPS increased 9 percent.

first quarter worldwide revenue was $7.384 billion, a decrease of 0.1 percent as reported, or an increase of 6.8 percent on an organic basis.

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