February 21, 2017 / 12:00 PM / 5 months ago

Medtronic posts 5 pct rise in quarterly revenue

1 Min Read

Feb 21 (Reuters) - Medtronic Plc, the world's largest standalone medical device maker, reported a 5 percent rise in quarterly revenue on Tuesday, driven by higher demand for its heart, vascular and minimally invasive products.

Net income attributable to Medtronic fell to $821 million, or 59 cents per share, in the third quarter ended Jan. 27 from $1.10 billion, or 77 cents per share, a year earlier.

The company's net sales rose to $7.28 billion from $6.93 billion.

Medtronic, which redomiciled to Ireland through the Covidien deal, relies on its core business of developing and selling heart devices, spinal implants, insulin pumps among others. (Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below