Medtronic slips on revenue miss

Medtronic (MDT) Q4 results:

Revenues: $7,717M (+2.3%); Cardiac & Vascular Group: $2,819M (+1.2%); Minimally Invasive Therapies Group: $2,176M (+2.4%); Restorative Therapies Group: $2,111M (+4.2%); Diabetes Group: $610M (unch).

Net Income: $1,915M (+50.9%); EPS: $1.42 (+51.1%); non-GAAP Net Income: $1,949M (+11.3%); non-GAAP EPS: $1.44 (+11.6%).

CF Ops: $5,784M (+17.6%).

Fiscal 2020 Guidance: non-GAAP EPS: $5.63 – 5.65 from $5.57 – 5.63.

Fiscal Q4 Guidance: Revenue growth (organic): ~4.5%; EPS: $1.64, excluding any impact from COVID-19.

COVID-19 is expected to negatively affect the company’s Q4 financial results.

Shares are down 2% premarket.

Previously: Medtronic EPS beats by $0.06, misses on revenue (Feb. 18)

https://seekingalpha.com/news/3542603-medtronic-slips-2-premarket-on-revenue-miss