• FILE - This file image provided by Medtronic shows the Medtronic Micra pacemaker, right, next to a conventional pacemaker. Medtronic plc reports earnings Tuesday, Nov. 22, 2016. (Medtronic via AP, File)

    FILE - This file image provided by Medtronic shows the Medtronic Micra pacemaker, right, next to a conventional pacemaker. Medtronic plc reports earnings Tuesday, Nov. 22, 2016. (Medtronic via AP, File) (The Associated Press)

  • FILE - This file image provided by Medtronic shows the Medtronic Micra pacemaker, right, next to a conventional pacemaker. Medtronic plc reports earnings Tuesday, Nov. 22, 2016. (Medtronic via AP, File)

    FILE - This file image provided by Medtronic shows the Medtronic Micra pacemaker, right, next to a conventional pacemaker. Medtronic plc reports earnings Tuesday, Nov. 22, 2016. (Medtronic via AP, File) (The Associated Press)

Medtronic beats 2Q profit forecasts

Markets Associated Press

Medtronic PLC (MDT) on Tuesday reported fiscal second-quarter net income of $1.12 billion.

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On a per-share basis, the Dublin-based company said it had profit of 80 cents. Earnings, adjusted for amortization costs and restructuring costs, came to $1.12 per share.

The results topped Wall Street expectations. The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The medical device company posted revenue of $7.35 billion in the period, which missed Street forecasts. Seventeen analysts surveyed by Zacks expected $7.46 billion.

Medtronic expects full-year earnings in the range of $4.55 to $4.60 per share.

Medtronic shares have increased roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 7.5 percent. The stock has risen slightly more than 6 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MDT at https://www.zacks.com/ap/MDT

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Keywords: Medtronic, Earnings Report