Medtronic plc Q2 Profit Increases, beats estimates

(RTTNews) - Medtronic plc (MDT) reported earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $909 million, or $0.68 per share. This compares with $427 million, or $0.32 per share, in last year's second quarter.

Excluding items, Medtronic plc reported adjusted earnings of $1.67 billion or $1.25 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.1% to $7.98 billion from $7.59 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q2): $909 Mln. vs. $427 Mln. last year. -EPS (Q2): $0.68 vs. $0.32 last year. -Analyst Estimate: $1.18 -Revenue (Q2): $7.98 Bln vs. $7.59 Bln last year.

-Guidance: Full year EPS guidance: $5.13 to $5.19