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Medtronic: Fiscal 2Q Earnings Snapshot

11/24/2020 | 06:56am

DUBLIN (AP) _ Medtronic PLC (MDT) on Tuesday reported fiscal second-quarter profit of $489 million.

On a per-share basis, the Dublin-based company said it had net income of 36 cents. Earnings, adjusted for amortization costs and non-recurring costs, were $1.02 per share.

The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The medical device company posted revenue of $7.65 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $7.05 billion.

Medtronic shares have dropped 2% since the beginning of the year, while the Standard & Poor's 500 index has risen 11%. The stock has climbed slightly in the last 12 months.

This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on MDT at

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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