Medtronic Plc Q2 Profit Increases, Beats Estimates

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

The company's earnings came in at $1.270 billion, or $0.99 per share. This compares with $909 million, or $0.68 per share, in last year's second quarter.

Excluding items, Medtronic plc reported adjusted earnings of $1.620 billion or $1.26 per share for the period.

Analysts on average had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $8.403 billion from $7.984 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q2): $1.270 Bln. vs. $909 Mln. last year. -EPS (Q2): $0.99 vs. $0.68 last year. -Revenue (Q2): $8.403 Bln vs. $7.984 Bln last year.

-Guidance: Full year EPS guidance: $5.44 to $5.50