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Medtronic plc Q4 Profit Increases, but misses estimates

Medtronic plc (MDT) reported earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $1.49 billion, or $1.10 per share. This compares with $1.36 billion, or $1.00 per share, in last year's fourth quarter.

Excluding items, Medtronic plc reported adjusted earnings of $2.04 billion or $1.52 per share for the period.

Analysts on average had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.2% to $8.09 billion from $8.19 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q4): $1.49 Bln. vs. $1.36 Bln. last year.
-EPS (Q4): $1.10 vs. $1.00 last year.
-Analyst Estimate: $1.56
-Revenue (Q4): $8.09 Bln vs. $8.19 Bln last year.

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