Medtronic beats profit estimates and raises its 2020 forecast again

Earnings

Source: Medtronic

Medical device maker Medtronic reported a 22.3% jump in quarterly profit on Tuesday, buoyed by higher sales in its surgical instruments and restorative therapies businesses.

Net income attributable to the company rose to $1.36 billion, or $1.01 per share, in the second quarter ended Oct. 25, from $1.12 billion, or 82 cents per share, a year earlier.

Net sales rose to $7.71 billion from $7.48 billion.

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