Medtronic Q3 Earnings Beat Estimates- Quick Facts

(RTTNews) - Medtronic plc (MDT) reported third-quarter net income of $1.27 billion or $0.94 per share compared with $1.915 billion or $1.42 per share in the same quarter a year ago.

Excluding items, adjusted earnings of $1.29 per share beat the average estimate of analysts polled by Thomson Reuters at $1.15 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter slightly increased by 0.8% year-over-year to $7.775 billion from $7.717 billion. The consensus estimate was for $7.78 billion.

"We're outperforming our end markets, as new products are driving share gains in an increasing number of our businesses," said Geoff Martha, Medtronic chairman and chief executive officer.

Due to the uncertainty on near-term financial results related to Covid-19 pandemic, the company did not provide outlook.