Medtronic posts loss due to $2.2B US tax law charge

Wall StreetReuters

A trio of traders work in a booth on the floor of the New York Stock Exchange, Tuesday, Jan. 30, 2018.

(Reuters) - Medtronic Plc reported a third-quarter loss on Tuesday, compared with a year-ago profit, hurt by a $2.2 billion charge related to recent changes in U.S. tax laws.

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The net loss attributable to Medtronic was $1.39 billion, or $1.03 per share, in the quarter ended Jan. 26, compared with a profit of $821 million, or $0.59 per share, a year earlier.

Net sales rose 1.2 percent to $7.37 billion.

(Reporting by Manas Mishra in Bengaluru; Editing by Savio D'Souza)