Medtronic plc Q3 Profit Increases, beats estimates

(RTTNews) - Medtronic plc (MDT) announced earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.32 billion, or $0.99 per share. This compares with $1.22 billion, or $0.92 per share, in last year's third quarter.

Excluding items, Medtronic plc reported adjusted earnings of $1.73 billion or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.7% to $8.09 billion from $7.73 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q3): $1.32 Bln. vs. $1.22 Bln. last year. -EPS (Q3): $0.99 vs. $0.92 last year. -Analyst Estimate: $1.26 -Revenue (Q3): $8.09 Bln vs. $7.73 Bln last year.

-Guidance: Full year EPS guidance: $5.19 to $5.21