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Medtronic: Fiscal 4Q Earnings Snapshot

DUBLIN (AP) _ Medtronic PLC (MDT) on Thursday reported fiscal fourth-quarter net income of $1.17 billion.

On a per-share basis, the Dublin-based company said it had profit of 87 cents. Earnings, adjusted for one-time gains and costs, were $1.54 per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The medical device company posted revenue of $8.15 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $8.11 billion.

For the year, the company reported profit of $4.63 billion, or $3.41 per share. Revenue was reported as $30.56 billion.

Medtronic expects full-year earnings in the range of $5.44 to $5.50 per share.

Medtronic shares have fallen slightly more than 2% since the beginning of the year, while the Standard & Poor's 500 index has risen 14%. The stock has increased 4.5% in the last 12 months.


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