MINNEAPOLIS (TheStreet) -- Medtronic (MDT) reported second-quarter earnings of $868 million, or 78 cents a share, an increase of almost 60% from a year earlier as it raised its 2010 earnings guidance.
Adjusted for a litigation gain and an accounting change, earnings in the quarter were 77 cents a share.
Revenue in the quarter rose 8% to $3.84 billion.
Analysts surveyed by Thomson Reuters expected Medtronic to earn 74 cents a share in the quarter on revenue of $3.7 billion.The company, the world's biggest maker of medical devices, said revenue at its cardiac rhythm disease management division rose 3% to $1.278 billion. Revenue from implantable cardioverter defibrillators was $754 million, while pacing revenue was $498 million. Medtronic said total revenue outside the U.S. rose 12% to $1.541 billion, and now accounts for 40% of the company's worldwide revenue. The company raised its fiscal 2010 earnings guidance to a range of $3.17 to $3.22 a share, from previous guidance of $3.10 to $3.20. Analysts expect fiscal 2010 earnings of $3.15 a share. -- Reported by Joseph Woelfel in New York . Follow TheStreet.com on Twitter and become a fan on Facebook.
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