Medtronic Earns 93 Cents Per Share

Medtronic ($MDT) just reported fiscal Q1 earnings of 93 cents per share which was one penny better than expectations. Quarterly revenues rose 4.7% to $4.27 billion which was $20 million better than expectations.

Medtronic reaffirmed full-year guidance of $4.00 to $4.15 per share. They also reaffirmed their commitment to the Covidien deal.

From the earnings report:

“Our first quarter results are a solid start to fiscal year 2015,” said Omar Ishrak, Medtronic chairman and chief executive officer. “Our growth was broad based across businesses and geographies. I was especially pleased that our innovation pipeline is delivering strong results, particularly in the U.S., which had its highest revenue growth performance in 5 years.”

The company noted that it had the strongest growth for U.S. medical devices in five years. Shares of MDT are largely unchanged so far in today’s trading.

Posted by on August 19th, 2014 at 9:17 am

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.