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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.

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