Medtronic plc Q3 Profit Decreases, but beats estimates

(RTTNews) - Medtronic plc (MDT) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $1.22 billion, or $0.92 per share. This compares with $1.48 billion, or $1.10 per share, in last year's third 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 $1.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $7.73 billion from $7.76 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q3): $1.22 Bln. vs. $1.48 Bln. last year. -EPS (Q3): $0.92 vs. $1.10 last year. -Analyst Estimates: $1.27 -Revenue (Q3): $7.73 Bln vs. $7.76 Bln last year.

-Guidance: Full year EPS guidance: $5.28 to $5.30