Medtronic plc Q4 adjusted earnings Miss Estimates

(RTTNews) - Medtronic plc (MDT) revealed a profit for fourth quarter that fell from last year.

The company's earnings totaled $0.65 billion, or $0.48 per share. This compares with $1.17 billion, or $0.87 per share, in last year's fourth quarter.

Excluding items, Medtronic plc reported adjusted earnings of $0.78 billion or $0.58 per share for the period.

Analysts had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.4% to $6.00 billion from $8.15 billion last year.

Medtronic plc earnings at a glance:

-Earnings (Q4): $0.78 Bln. vs. $2.08 Bln. last year. -EPS (Q4): $0.58 vs. $1.54 last year. -Analysts Estimate: $1.06 -Revenue (Q4): $6.00 Bln vs. $8.15 Bln last year.