» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 161 | Tuesday, August 19, 2014

Medtronic First-Quarter Profit Drops Almost 9 Percent

AP

Print | Front Page | Email this story | Comments ()

MINNEAPOLIS (AP) Medtronic Inc. on Tuesday reported net income that declined by nearly 9 percent in its fiscal first quarter, and beat analysts' expectations.

The Minneapolis-based company said earnings decreased to $871 million, or 87 cents per share, from $953 million, or 93 cents per share, in the same quarter a year ago.

Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were 93 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The medical device company said revenue climbed nearly 5 percent to $4.27 billion from $4.08 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $4.25 billion, according to Zacks.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 0 8,303 8,303
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.