DUBLIN (AP) — Medtronic PLC (MDT) on Thursday reported fiscal fourth-quarter profit of $1.49 billion.
On a per-share basis, the Dublin-based company said it had net income of $1.10. Earnings, adjusted for one-time gains and costs, came to $1.52 per share.
The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The medical device company posted revenue of $8.09 billion in the period, which also missed Street forecasts. Ten analysts surveyed by Zacks expected $8.41 billion.
For the year, the company reported profit of $5.04 billion, or $3.73 per share. Revenue was reported as $31.69 billion.
Medtronic expects full-year earnings in the range of $5.53 to $5.65 per share.