logo
Plus   Neg
Share
Email

Medtronic Q3 Earnings Beat Estimates- Quick Facts

Medtronic plc (MDT) reported third-quarter net income of $1.27 billion or $0.94 per share compared with $1.915 billion or $1.42 per share in the same quarter a year ago.

Excluding items, adjusted earnings of $1.29 per share beat the average estimate of analysts polled by Thomson Reuters at $1.15 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter slightly increased by 0.8% year-over-year to $7.775 billion from $7.717 billion. The consensus estimate was for $7.78 billion.

"We're outperforming our end markets, as new products are driving share gains in an increasing number of our businesses," said Geoff Martha, Medtronic chairman and chief executive officer.

Due to the uncertainty on near-term financial results related to Covid-19 pandemic, the company did not provide outlook.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow. Pfizer Inc. (PFE) and OPKO Health Inc. (OPK) announced Friday that the European Medicines Agency or EMA has validated for review the Marketing Authorization Application for somatrogon. Pfizer expects a decision from the European Commission in 2022. The company said somatrogon is a long-acting recombinant... German telecom giant Deutsche Telekom AG reported Friday strong growth in fourth-quarter profit mainly driven by T-Mobile US results following the takeover of the competitor Sprint. Looking ahead for fiscal 2021, the company projects higher adjusted EBITDA AL, a key earnings metric.
Follow RTT