Medtronic (NYSE: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.
Check out this: Insiders Buy More Than $170M Of 4 Stocks
Earnings
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.
Past Earnings Performance
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).
Guidance
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.
To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
