Medtronic plc (MDT) released a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $654 million, or $0.49 per share. This compares with $1.18 billion, or $0.88 per share, in last year's fourth quarter.
Excluding items, Medtronic plc reported adjusted earnings of $1.93 billion or $1.46 per share for the period.
Analysts on average had expected the company to earn $1.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 0.6% to $8.59 billion from $8.54 billion last year.
Medtronic plc earnings at a glance (GAAP) :
-Earnings (Q4): $654 Mln. vs. $1.18 Bln. last year.
-EPS (Q4): $0.49 vs. $0.88 last year.
-Revenue (Q4): $8.59 Bln vs. $8.54 Bln last year.
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