New Products Drive Medtronic’s Revenue, Profit Growth In Q3

The medtech giant announced 6% revenue growth, led by the cardiac and vascular and diabetes groups, both of which are enjoying strong market demand for new products. Medtronic expects to continue growing revenues by about five percent annually to maintain double-digit earnings growth.

After a disappointing fiscal 2017 second-quarter, Medtronic PLC’s third-quarter results beat analysts’ projections and put the company on track to achieve its targets for 2017.

The company credited innovative products as well as the continued integration of Covidien Ltd. for driving overall revenue up 6% to $7.283bn and diluted earnings per-share up 10% to...

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