UPDATE: Medtronic Posts Upbeat FQ3 Earnings

Medtronic

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.