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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Medtronic PLC | NYSE:MDT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.65 | 0.81% | 80.89 | 81.73 | 79.99 | 79.99 | 5,366,118 | 01:00:00 |
From May 2019 to May 2024
By Imani Moise
Medtronic PLC said its earnings fell in the most recent quarter amid shrinking margins and a tough foreign currency environment.
Sales in each of the Irish company's reportable business groups rose during the quarter, but revenue took a $40 million hit from foreign exchange rates.
In all for the fiscal third quarter Medtronic reported a profit of $821 million, or 59 cents a share, down from $1.1 billion, or 77 cents, a year earlier. Excluding negative impacts from foreign currency effects earnings rose to $1.12 from $1.06 cents.
Revenue grew 5% to $7.28 billion.
Analysts polled by Thomson Reuters had forecast earnings of $1.11 on $7.22 billion in revenue.
Operating margin fell to 15.7% from 19.5%.
The company also backed its 2017 guidance.
Shares, inactive premarket, last closed at $78.88 and have risen 11% so far this year.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
February 21, 2017 08:03 ET (13:03 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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