May 21, 2020 / 10:58 AM / 6 days ago

Medtronic fourth-quarter profit plunges nearly 45% on COVID-19 hit

May 21 (Reuters) - Medical device maker Medtronic PLC reported a 44.9% fall in fourth-quarter profit on Thursday as it took a hit from delays in elective surgeries due to the COVID-19 pandemic.

Net income attributable to the company fell to $646 million, or 48 cents per share, in the quarter ended April 24, from $1.17 billion, or 87 cents per share, a year earlier.

The company however said it had ample liquidity and raised its quarterly dividend.

Reporting by Trisha Roy in Bengaluru; Editing by Amy Caren Daniel

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