Medtronic profit more than doubles on recovery in base business

Medtronic plc (NYSE:MDT) today announced financial results for its fourth quarter and fiscal year 2021, which endedApril 30, 2021.

- Q4 Revenue of$8.2 Billion Increased 37% Reported and 32% Organic.

- Q4 GAAP Diluted EPS of$1.00; Q4 Non-GAAP Diluted EPS of$1.50.

-Net income attributable to the company rose to $1.36 billion, or $1 per share, in the quarter ended April 30, from $646 million, or 48 cents per share, a year earlier.

- Quarterly Dividend Increased to$0.63, Annual$2.52 from Prior$2.32; 44th Consecutive Year of Dividend Increases.

- Company Issues FY22 Guidance.

- Guidance Reflects FY22 Revenue Growth above Street Consensus, Investment Ahead of Major Product Launches, and Largest Planned R&D Increase in Company History.

Medtronic shares were unchanged in premarket trading.