Medtronic 3Q profit rises 19 percent
Minneapolis (AP) — Medical device maker Medtronic says profit rose 19 percent in the third quarter on robust sales of heart devices, including implantable products and stents.
The company says profit rose to $831 million, or 75 cents per share, during the quarter ending Jan. 29. That's up from $698 million, or 62 cents per share, a year ago. Revenue jumped 10 percent to $3.85 billion.
Looking ahead, the company raised the lower end of its full-year guidance, bringing it to between $3.20 and $3.22 per share. The low end was at $3.17 per share previously. Analysts are looking for profits of $3.18 per share.
Shares of Medtronic Inc. dipped a penny to $43.65 in premarket trading.
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