Medtronic plc Q3 Profit Increases, beats estimates

(RTTNews) - Medtronic plc (MDT) announced a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.48 billion, or $1.10 per share. This compares with $1.27 billion, or $0.94 per share, in last year's third quarter.

Excluding items, Medtronic plc reported adjusted earnings of $1.85 billion or $1.37 per share for the period.

Analysts on average had expected the company to earn $1.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.3% to $7.76 billion from $7.78 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q3): $1.48 Bln. vs. $1.27 Bln. last year. -EPS (Q3): $1.10 vs. $0.94 last year. -Analyst Estimate: $1.36 -Revenue (Q3): $7.76 Bln vs. $7.78 Bln last year.

-Guidance: Next quarter EPS guidance: $1.56 to $1.58