Medtronic Posts Better-Than-Expected Earnings. Here’s Why the Stock Is Falling.
Market Intelligence Analysis
AI-PoweredMedtronic reported better-than-expected earnings, but the stock is falling due to a decline in non-adjusted profit from the same period last year.
Market impact analysis based on bearish sentiment with 70% confidence.
Article Context
Medical device maker Medtronic reported quarterly earnings and net sales that topped consensus views. Medtronic on Tuesday posted fiscal third-quarter adjusted earnings of $1.36 a share, narrowly beating analysts’ forecasts of $1.34. Medtronic’s profit declined from the same period last year on a non-adjusted basis, slipping to $1.14 billion from $1.29 billion.
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