Medtronic posts higher quarterly earnings

WASHINGTON, Nov 22: Medical device maker Medtronic Inc reported higher quarterly earnings on Tuesday as sales in most of its businesses improved. Earnings were $871 million, or 82 cents per share, in the second quarter ended October 28, compared with $566 million, or 52 cents per share, a year earlier. Excluding items, earnings were 84 cents a share, 2 cents above the analysts' average estimate, according to Thomson Reuters IBES. Revenue rose to $4.13 billion from $3.90 billion a year ago, even as sales of implantable heart defibrillators and spine biologics remained weak, as expected. For the second half, the company maintained its revenue forecast calling for growth from continuing operations of 1 percent to 3 per cent. - Reuters