logo
Plus   Neg
Share
Email

Medtronic Plc Q4 Profit Beats Estimates - Quick Facts

Medtronic plc (MDT) said its fourth-quarter non-GAAP net income and non-GAAP diluted EPS were up 7 percent and 8 percent, respectively, from previous year. Adjusting for negative impact from foreign currency, fourth-quarter non-GAAP diluted EPS increased 9 percent. Revenue grew 3.6% organic, for the quarter. Looking forward, for fiscal 2020, Medtronic projects revenue growth to approximate 4.0 percent on an organic basis.

For the fourth-quarter, non-GAAP earnings per share was $1.54 compared to $1.42 previous year. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $1.47 for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter revenue was $8.1 billion, flat as reported. Analysts expected revenue of $8.11 billion, for the quarter.

For fiscal 2020, the company expects non-GAAP EPS in the range of $5.44 to $5.50, including an estimated 10 cent negative impact from foreign exchange based on current rates. Analysts expect the company to report profit per share of $5.44.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network. Mitsubishi Motors North America inc. recalled 141,200 cars and sports utility vehicles (SUVs) due to potential corrosion of the front cross member because of salt water exposure such as from road salt use in cold-weather, according to the National Highway Traffic Safety Administration. The recall is expected to begin on July 14, 2020. The U.S. State of Arizona filed a consumer fraud lawsuit against Google alleging deceptive and unfair practices used to obtain users' location data. In the filing, Arizona Attorney General Mark Brnovich accused that the tech giant exploits these data for its lucrative advertising business. In a tweet, Brnovich said, "We brought forward this action to put a stop to Google's deceptive collection ...
Follow RTT