Medtronic plc Q2 Profit Decreases, but beats estimates

(RTTNews) - Medtronic plc (MDT) revealed earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $427 million, or $0.32 per share. This compares with $1.31 billion, or $0.97 per share, in last year's second quarter.

Excluding items, Medtronic plc reported adjusted earnings of $1.73 billion or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.3% to $7.59 billion from $7.85 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q2): $427 Mln. vs. $1.31 Bln. last year. -EPS (Q2): $0.32 vs. $0.97 last year. -Analyst Estimates: $1.28 -Revenue (Q2): $7.59 Bln vs. $7.85 Bln last year.