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
Pfizer has uncovered the counterfeit versions of its Covid-19 vaccine in Mexico and Poland, according to a Wall Street Journal report. The vaccine was developed in partnership with Germany's BioNTech SE. Though there have been several reports of counterfeit versions of the Covid-19 vaccine, this seems to be the first confirmed instance. American Airlines is planning to resume hiring pilots this year to meet a rebound in travel demand in the summer season, reports said citing a company memo. The airline is expected to add 300 pilots by the end of the year and double that in 2022. Verizon Communications Inc. (VZ) reported a profit for the first-quarter that increased 25.4 percent from last year, reflecting growth in wireless service revenue, wireless equipment revenue and total Fios Internet net additions. Quarterly operating revenues rose 4.0 percent from the prior year.
Follow RTT