Medtronic Q3 Results Beat Estimates - Quick Facts

(RTTNews) - Medical equipment maker Medtronic Inc. (MDT) said third-quarter net earnings advanced to $977 million, or $0.98 per share from $762 million or $0.75 per share reported last year.

Adjusted earnings per hare totaled $1.01, while it was $0.91 in the prior year. On average, 18 analysts polled by Thomson Reuters expected earnings of $0.97 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue grew to $4.318 billion from $4.163 billion in the same quarter last year. Analysts expected revenues of $4.25 billion.

Omar Ishrak, Medtronic plc chairman and chief executive officer, said, "Q3 was a strong quarter, with revenue growth well above our outlook range for the fiscal year and exceeding our mid-single digit baseline goal. All three legacy Medtronic groups contributed to our robust performance."

Further, the company provided its revenue outlook for Medtronic plc, which includes both the legacy Medtronic and Covidien businesses, for the remainder of fiscal year 2015.

In the fourth quarter of fiscal year 2015, the company expects constant currency revenue growth in the range of 4 to 6 percent on a combined pro forma basis.