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.
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
Microsoft (MSFT) reports higher revenue and profit for Q3 2024
Microsoft Corp. (NASDAQ: MSFT) on Thursday said its third-quarter 2024 earnings increased year-over-year, reflecting strong performance by the tech giant’s main operating segments. Third-quarter revenues came in at $61.86 billion,
GOOG, GOOGL Earnings: All you need to know about Alphabet’s Q1 2024 earnings results
Alphabet Inc. (NASDAQ: GOOG, GOOGL) reported its first quarter 2024 earnings results today. Revenues increased 15% year-over-year to $80.5 billion. Revenue growth was 16% in constant currency. Net income was
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales