UPDATE: Covidien FQ4 Net Profit Rises 2.2%
Covidien PLC (NYSE: COV) reported a 2.2% rise in its fiscal fourth-quarter net income.
Covidien's quarterly earnings climbed to $461 million, or $0.95 per share, from $451 million, or $0.92 per share, in the year-ago period. Its adjusted earnings from continuing operations came in at $1.02 per share.
Its sales declined to $3 billion from $3.08 billion. However, analysts were expecting a profit of $1 per share on revenue of $2.98 billion.
Covidien shares closed at $53.36 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.