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    Tuesday, November 24, 2009

    Medtronic Reports Profit Rise

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    By Sam Mamudi
    MarketWatch Pulse
       

      NEW YORK -- Medtronic Inc. said Tuesday its fiscal second-quarter profit rose to $868 million, or 78 cents a share, from $547 million, or 48 cents a share, in the year-ago period. Revenue rose 8%, to $3.8 billion. On an adjusted basis, net earnings were $850 million, or 77 cents a share. Analysts surveyed by FactSet Research had expected, on average, net earnings of 74 cents a share on revenue of $3.75 billion. The Minneapolis-based medical technology company also raised guidance for the fiscal year 2010 to a range of $3.17 to $3.22 a share.

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