Medtronic 1Q net income climbs to $830 million
Medical device maker Medtronic says its first-quarter earnings jumped to $830 million, but revenue fell in a soft global health care market.
The world's largest medical-device company says it earned 76 cents per share in the three months that ended July 30. That compares to net income of $445 million, or 40 cents per share, last year, when restructuring charges and legal fees weighed down performance.
Medtronic, which is based in Minneapolis, says revenue fell 4 percent to $3.77 billion.
Excluding one-time costs, the company earned 80 cents per share.
Analysts expected earnings of 80 cents per share on $3.94 billion in revenue.