Medtronic Reports Q2 Earnings Beat, Raises Guidance

Medtronic MDT reported second-quarterly earnings of $1.31 per share on Tuesday, which beat the analyst consensus estimate of $1.28 by 2.34%. This is a 7.38% increase over earnings of $1.22 per share from the same period last year.

The company reported quarterly sales of $7.706 billion, which beat the analyst consensus estimate of $7.66 billion by 0.60%. This is a 3.01% increase over sales of $7.481 billion the same period last year.

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Medtronic raised fiscal year 2020 EPS guidance from $5.54-$5.60 to $5.57-$5.63 versus the $5.56 estimate.

Medtronic shares were trading up 2% at $113.50 in Tuesday’s pre-market session. The stock has a 52-week high of $114.46 and a 52-week low of $81.66.