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MDT / Medtronic stock falls after profit beats expectations but revenue misses, and outlook is downbeat

Shares of Medtronic PLC MDT, +1.22% dropped 2.4% in premarket trading Tuesday, after the medical devices maker reported fiscal second-quarter profit that topped expectations but revenue that missed and provided a downbeat full-year outlook, citing weakness in procedure volumes in certain businesses and the pricing impact of procurement in China. Net income for the quarter to Oct. 28 fell to $427 million, or 32 cents a share, from $1.31 billion, or 97 cents a share, in the year-ago period. Read More

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Posted: Nov 22 2022, 06:58

Author Name: Market Watch

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