Medtronic: Q2 Earnings Insights
Portfolio Pulse from Benzinga Insights
Medtronic (NYSE:MDT) reported Q2 earnings with an EPS of $1.25, beating estimates by 5.93% against the expected $1.18. Revenue increased by $399 million from the same period last year. Despite beating EPS estimates last quarter, the share price dropped by 0.05% the following day. Historical earnings data shows a consistent pattern of surpassing EPS estimates.
November 21, 2023 | 11:50 am
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Medtronic reported a positive Q2 earnings surprise with a 5.93% beat on EPS and a significant year-over-year revenue increase. Historically, the stock has shown a slight drop after earnings beats.
Medtronic's earnings beat is a positive signal, but the historical slight drop in share price post-earnings beat suggests a cautious short-term outlook. Investors may have already priced in the earnings beat, or there may be other factors at play affecting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100