February 20, 2018 / 11:56 AM / 3 months ago

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

Feb 20 (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)

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