Recap: Medtronic Q3 Earnings

Medtronic MDT reported its Q3 earnings results on Tuesday, February 22, 2022 at 06:45 AM.

Here's what investors need to know about the announcement.

Medtronic reported in-line EPS of $1.37 versus an estimate of $1.37.

Revenue was up $12.00 million from the same period last year.

Last quarter the company beat on EPS by $0.03 which was followed by a 0.93% increase in the share price the next day.

Here's a look at Medtronic's past performance:

Quarter	Q2 2022	Q1 2022	Q4 2021	Q3 2021
EPS Estimate	1.29	1.32	1.42	1.15
EPS Actual	1.32	1.41	1.50	1.29
Revenue Estimate	7.96B	7.86B	8.14B	7.78B
Revenue Actual	7.85B	7.99B	8.19B	7.78B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Medtronic management provided guidance for their next quarter, expecting earnings between $1.56 and $1.58 per share for the next quarter.

This represents a 14.6% in quarter-over-quarter growth for Medtronic, a bullish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.