Medtronic, Inc. (NYSE:MDT) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Medtronic, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.53% to $0.88 in the quarter versus EPS of $0.85 in the year-earlier quarter.
Revenue: Rose 1.87% to $4.08 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Medtronic, Inc. reported adjusted EPS income of $0.88 per share. By that measure, the company met the mean analyst estimate of $0.88. It missed the average revenue estimate of $4.11 billion.
Quoting Management: “Our Q1 results reflect that we are broadly outperforming our sector,” said Omar Ishrak, Medtronic chairman and chief executive officer. “At the same time, we continue to strengthen and geographically diversify our business and remain confident in both our outlook for the remainder of the year and our long-term competitive position in the changing healthcare environment.”
Key Stats (on next page)…