GALWAY, Ireland (AP) — GALWAY, Ireland (AP) — Medtronic PLC (MDT) on Tuesday reported fiscal first-quarter net income of $1.04 billion.
On a per-share basis, the Galway, Ireland-based company said it had profit of 81 cents. Earnings, adjusted for amortization costs and non-recurring costs, were $1.26 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The medical device company posted revenue of $8.58 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $8.37 billion.
Medtronic expects full-year earnings in the range of $5.60 to $5.66 per share.
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