Medtronic plc Q1 adjusted earnings Beat Estimates

(RTTNews) - Medtronic plc (MDT) released a profit for first quarter that fell from last year.

The company's bottom line totaled $487 million, or $0.36 per share. This compares with $864 million, or $0.64 per share, in last year's first quarter.

Excluding items, Medtronic plc reported adjusted earnings of $836 million or $0.62 per share for the period.

Analysts had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.1% to $6.51 billion from $7.49 billion last year.

Medtronic plc earnings at a glance:

-Earnings (Q1): $836 Mln. vs. $1703 Mln. last year. -EPS (Q1): $0.62 vs. $1.26 last year. -Analysts Estimate: $0.18 -Revenue (Q1): $6.51 Bln vs. $7.49 Bln last year.