Medtronic MDT reported first-quarter earnings of $1.26 per share, which beat the analyst consensus estimate of $1.18 by 6.78%. This is a 7.69% increase over earnings of $1.17 per share from the same period last year.
The company reported quarterly sales of $7.5 billion, which beat the analyst consensus estimate of $7.4 billion by 1.35%. This is 1.57% increase over sales of $7.384 billion the same period last year.
Medtronic has raised fiscal year 2020 EPS guidance from $5.44-$5.50 to $5.54-$5.60 versus the $5.48 estimate.
"Medtronic had a solid first-quarter, delivering revenue growth, operating margin expansion, and adjusted EPS growth all ahead of expectations," said CEO Omar Ishrak in a statement.
Medtronic shares were trading up 4.34% at $108.70 in Tuesday’s pre-market session. The stock has a 52-week high of $104.42 and a 52-week low of $81.66.
Related Links:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
