Medtronic beats profit and sales estimates in latest quarter

Medtronic PLC said Thursday it had net income of $1.460 billion, or $1.07 a share, in its fiscal fourth quarter to April 27, up from $1.163 billion, or 84 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.42, ahead of the FactSet consensus of $1.39. Revenue rose 2.9% to $8.144 billion, also ahead of the FactSet consensus of $7.999 billion. U.S. revenue of $5.187 billion accounted for 52% of overall revenue. The company set guidance for fiscal 2019, saying it expects adjusted EPS of $5.10 to $5.15, compared with a current FactSet consensus of $5.14. Shares were not yet active premarket, but have gained 5.6% in the year so far, while the S&P 500 has gained 2.2%.