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Medtronic profit falls nearly 44% as COVID-19 hurts demand

Aug 25 - Medtronic Plc reported a 43.6% fall in quarterly profit on Tuesday as a decline in demand for elective surgeries due to the COVID-19 pandemic hit sales of its medical devices.

Net income attributable to the company fell to $487 million, or 36 cents per share, in the first quarter ended July 31, from $864 million, or 64 cents per share, a year earlier.

Revenue fell to $6.51 billion from $7.49 billion. (Reporting by Dania Nadeem and Manojna Maddipatla in Bengaluru; Editing by Aditya Soni)

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