Medtronic posts Q4 profit beat on surgical instruments business strength

Earnings

Employees work on stent graft components in a sterile environment at the Medtronic assembly plant in Tijuana, Mexico.

David Maung | Bloomberg | Getty Images

Medtronic reported a nearly 20% drop in quarterly profit on Thursday, hurt by lower sales in its cardiac and vascular business that makes heart valves and stents.

Net income attributable to the company fell to $1.17 billion, or 87 cents per share, in the fourth quarter ended April 26, from $1.46 billion, or $1.07 per share, a year earlier.

Net sales rose to $8.15 billion from $8.14 billion.

Products You May Like

Articles You May Like

Airbnb records 30% growth rate in Q1 on booking strength, Reuters reports
Study Shows iBuyers Cost Home Sellers Thousands; Is Convenience Worth The Price?
No, Bernie Sanders’ Plan Won’t Rescue Multiemployer Pensions
Target shares surge 19% as second-quarter profit jumps and earnings outlook is hiked
More colleges are cutting tuition. Don’t expect to pay less, though

Leave a Reply

Your email address will not be published. Required fields are marked *