UPDATE: Medtronic Posts In-Line Q3 Earnings

Medtronic

reported a drop in its third-quarter net earnings. Medtronic's quarterly net earnings fell to $762 million, or $0.75 per share, versus $988 million, or $0.97 per share, in the year-ago period. Excluding one-time items, it earned $0.91 per share, versus analysts' estimates of $0.91 per share. Its revenue climbed 3% to $4.16 billion. Medtronic's spinal product sales fell 1% to $744 million, while its sales of diabetes products gained 16% to $436 million. Medtronic shares rose 0.53% to $56.90 in pre-market trading.