Medtronic plc Q4 Profit Increases, but misses estimates

(RTTNews) - Medtronic plc (MDT) reported earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $1.49 billion, or $1.10 per share. This compares with $1.36 billion, or $1.00 per share, in last year's fourth quarter.

Excluding items, Medtronic plc reported adjusted earnings of $2.04 billion or $1.52 per share for the period.

Analysts on average had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.2% to $8.09 billion from $8.19 billion last year.

Medtronic plc earnings at a glance (GAAP) :

-Earnings (Q4): $1.49 Bln. vs. $1.36 Bln. last year. -EPS (Q4): $1.10 vs. $1.00 last year. -Analyst Estimate: $1.56 -Revenue (Q4): $8.09 Bln vs. $8.19 Bln last year.