Medtronic Earnings: MDT Reports Q3 Earnings Beat

MDT beat EPS estimates by 5 a nickel

The Medtronic earnings report for the company’s fiscal third quarter of 2019 is out.

Medtronic Earnings: MDT Reports Q3 Earnings Beat
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Medtronic (NYSE:MDT) reported earnings per share of $1.29 for its fiscal third quarter of the year. This is up from the company’s earnings per share of $1.17 from its fiscal third quarter of 2018. It also beat out Wall Street’s earnings per share estimate of $1.24 for its fiscal third quarter of 2019.

Medtronic earnings for its fiscal third quarter of the year also includes net income of $1.27 billion. This is an increase over the company’s net loss of $1.39 billion reported in the same period of the year prior.

The Medtronic earnings report for the company’s fiscal third quarter of 2019 also has operating income coming in at $1.54 billion. The medical device company reported operating income of $1.44 billion in its fiscal third quarter of the previous year.

Revenue reported in the Medtronic earnings release for its fiscal third quarter of the year was $7.55 billion. This is better than the company’s revenue of $7.37 billion reported during the same time last year. It also comes in above analysts’ revenue estimate of $7.52 billion for the period.

“Revenue outperformance in our Minimally Invasive Therapies and Restorative Therapies Groups, as well as broad strength across Emerging Markets, helped to offset certain market-specific headwinds we faced during the quarter, reflecting the full benefits of our diversification,” Omar Ishrak, Chairman and CEO of Medtronic, said in a statement.

MDT stock was up slightly as of noon Monday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/medtronic-earnings-beat-estimates/.

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