Medtronic posts loss due to $2.2 billion U.S. tax law charge

Money Laundering Via Author Impersonation on Amazon?
February 20, 2018
Medtronic quarterly profit meets expectations
February 20, 2018
This post was originally published on this site

(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.

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