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
Foxconn, Apple Inc.'s key iPhone assembler, expects that its major plant in China, which is being hit hard by worker unrest following Covid-19 spread and related restrictions, would restart full production around late December to early January, Reuters reported citing a Foxconn source. Nestle Purina PetCare Co. has recalled a limited amount of certain prescription wet dog food citing labeling error, the U.S. Food and Drug Administration said. The recall involves Purina Pro Plan Veterinary Diets EN Gastroenteric Low Fat or PPVD EN Low Fat wet dog food that comes in 13.4 oz cans. Exportadora Copramar is recalling 1260 cases of James Farm frozen raspberries citing potential to be contaminated with Hepatitis A, the U.S. Food and Drug Administration said. The recall involves James Farm branded frozen raspberries identified by UPC Code: 76069501010 and Lot Code - 22-165.
Follow RTT