Medtronic (MDT) Tops Q1 EPS by 2c; Reiterates Outlook

Medtronic (NYSE: MDT) reported Q1 EPS of $1.03, $0.02 better than the analyst estimate of $1.01. Revenue for the quarter came in at $7.2 billion versus the consensus estimate of $7.17 billion.Medtronic reaffirmed FY2016 guidance.

Company Reiterates FY17 Revenue Outlook and EPS Guidance.

"Q1 was another strong quarter for Medtronic, where our diversified businesses and geographies delivered solid results," said Omar Ishrak, Medtronic chairman and chief executive officer. "In addition to our solid top- and bottom-line performance, we also continue to generate significant free cash flow, and we continue to strategically deploy our capital against our priorities of reinvesting with discipline in M&A and R&D, returning substantial cash to our shareholders, and deleveraging our balance sheet."

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