GALWAY, Ireland (AP) — GALWAY, Ireland (AP) — Medtronic PLC (MDT) on Wednesday reported fiscal fourth-quarter net income of $1.24 billion.
The Galway, Ireland-based company said it had profit of 96 cents per share. Earnings, adjusted for amortization costs and pretax expenses, were $1.55 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The medical device company posted revenue of $9.81 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $9.66 billion.
For the year, the company reported profit of $4.8 billion, or $3.73 per share. Revenue was reported as $36.33 billion.
Medtronic expects full-year earnings in the range of $5.90 to $6 per share.
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