Medtronic’s Quarterly Profit Rises on New Heart Device Sales
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Medtronic Plc, the world’s biggest maker of heart-rhythm devices, reported profit that beat analysts’ estimates for the final full quarter before the company acquired Covidien Plc and moved its tax address to Ireland.
Excluding one-time items, earnings were $1.01 a share in the fiscal third quarter, which ended Jan. 23. That topped the 97-cent average of 16 analyst estimates compiled by Bloomberg. Revenue rose 3.7 percent to $4.32 billion.