AP NEWS

Medtronic: Fiscal 2Q Earnings Snapshot

November 19, 2019

DUBLIN (AP) — Medtronic PLC on Tuesday reported fiscal second-quarter earnings of $1.36 billion.

The Dublin-based company said it had net income of $1.01 per share. Earnings, adjusted for one-time gains and costs, were $1.31 per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The medical device company posted revenue of $7.71 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $7.68 billion.

Medtronic expects full-year earnings in the range of $5.57 to $5.63 per share.

Medtronic shares have climbed 22% since the beginning of the year, while the Standard & Poor’s 500 index has risen 25%. The stock has climbed 19% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDT at https://www.zacks.com/ap/MDT