UPDATE: Medtronic Posts Rise In FQ4 Profit

Medtronic Inc (NYSE: MDT) reported a rise in its fiscal fourth-quarter profit.

Medtronic's quarterly profit climbed to $991 million, or $0.95 per share, versus $776 million, or $0.73 per share, in the year-earlier period. Its net sales rose to $4.30 billion, from $4.17 billion.

Medtronic adjusted quarterly profit came in at $0.99 per share. However, analysts were expecting earnings of $0.98 per share on revenue of $4.23 billion.

Medtronic shares gained 3.45% to $39.00 in pre-market trading.

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