Medtronic beats by $0.04, reports revs in-line; co reiterates FY guidance (78.90)
- Reports Q2 (Oct) earnings of $1.07 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $1.03; revenues fell 4.0% year/year to $7.05 bln vs the $7.05 bln Capital IQ Consensus.
- Second quarter U.S. revenue of $3.734 billion represented 53 percent of company revenue and decreased 10 percent as reported, or was flat on a comparable basis.
- CVG worldwide second quarter revenue of $2.773 billionincreased 7 percent on both a reported and constant currency basis.
- MITG worldwide second quarter revenue of $1.952 billion decreased 21 percent as reported, or increased 2 percent on a comparable, constant currency basis.
FY Guidance
- In fiscal year 2018, the company continues to expect diluted non-GAAP EPS growth to be in the range of 9 to 10 percent on a comparable, constant currency basis from the prior year comparable EPS of $4.37.
- In fiscal year 2018, the company continues to expect comparable, constant currency revenue growth to be in the range of 4 to 5 percent.