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Medtronic PLC (MDT) reported a $1.27 billion fiscal third-quarter profit on Tuesday.

It had net income of 94 cents per share, the Dublin-based company said. Earnings were $1.29 per share, adjusted for one-time gains and costs.

Wall Street expectations were beaten by the results. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

 

In the period, the medical device company posted revenue of $7.78 billion, fulfilling Street projections.

Since the beginning of the year, Medtronic shares have decreased 1 percent, while the Standard & Poor’s 500 index has increased 3 percent . In the last 12 months, the stock has risen approximately 2 percent.

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