UPDATE: Medtronic Posts Upbeat FQ3 Earnings
Medtronic (NYSE: MDT) reported a 5.7% rise in its fiscal third-quarter earnings.
Medtronic's quarterly profit surged to $988 million, or $0.97 per share, from $935 million, or $0.88 per share, in the year-ago period. Excluding one-time items, its adjusted earnings from continuing operations came in at $0.93 per share.
Its revenue rose 2.8% to $4.03 billion. However, analysts were expecting earnings of $0.91 per share on revenue of $4.04 billion.
Medtronic shares dropped 0.70% to $46.79 in pre-market trading.
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