Medtronic posts higher-than-expected quarterly earnings

Tue Feb 19, 2013 7:40am EST

Feb 19 (Reuters) - Medtronic Inc on Tuesday reported higher quarterly earnings as sales rose slightly.

The maker of implantable heart devices, insulin pumps and products used for spine surgery said its net earnings increased to $988 million, or 97 cents per share, in the third quarter ended on Jan. 25 from $935 million, or 89 cents per share, in the year-earlier period.

Excluding items, earnings were 93 cents per share. On that basis, analysts on average were expecting 91 cents.

Third-quarter revenue rose 4 percent to $4.03 billion.