Categories Earnings, Health Care

Medtronic tops expectations on Q4 results

Medtronic plc (NYSE: MDT) reported revenue and earnings for the fourth quarter of 2019 that topped market expectations. Shares rose 2.4% in premarket hours on Thursday.

Worldwide revenue amounted to $8.1 billion, which was flat on a reported basis and up 3.6% on an organic basis, compared to the prior-year period.

Medtronic reports fourth quarter 2019 earnings results

On a reported basis, net income attributable to Medtronic was $1.17 billion, or $0.87 per share, compared to $1.46 billion, or $1.07 per share. Adjusted net income was $2.07 billion, or $1.54 per share.

Revenue in the US grew 2.3% year-over-year to $4.2 billion. Non-US developed market revenue totaled $2.5 billion, down 5.3% on a reported basis and up 1.7% on a constant currency basis. Revenue from emerging markets amounted to $1.28 billion, reflecting a growth of 3.9% on a reported basis and 12% on a constant currency basis.

In the Cardiac and Vascular Group division, revenues fell 2.7% on a reported basis and rose 1.1% in constant currency. In the Minimally Invasive Therapies Group, revenue increased 0.8% on a reported basis and 5.1% on a constant currency basis.

In the Restorative Therapies Group, revenues increased 4.1% as reported and 6.5% in constant currency. In the Diabetes Group, revenue fell 2.9% as reported but grew 0.6% in constant currency.

For fiscal year 2020, organic revenue is expected to grow 4%. Adjusted EPS is expected to be $5.44 to $5.50.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Here’s a look at Dollar Tree’s (DLTR) expectations for the remainder of the year

Shares of Dollar Tree Inc. (NASDAQ: DLTR) were down over 1% on Wednesday, a day after the company reported earnings results for the third quarter of 2022. Revenue and earnings

Target Corporation (TGT): A look at how the retail giant is shaping up against an inflationary backdrop

Shares of Target Corporation (NYSE: TGT) were up over 1% on Wednesday. The stock has dropped 30% year-to-date and 35% over the past 12 months. Last week the company reported

Is Zoom Video Communications (ZM) a good investment after Q3 earnings?

Zoom Video Communications (NASDAQ: ZM) expanded its customer base at an accelerated pace during the COVID crisis and soon became the preferred video conferencing platform for businesses and millions of

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top