Medical device maker
matched Wall Street's second-quarter earnings estimate before charges related to acquisitions made earlier this year. The company earned $349.2 million, or 29 cents a share, before a one-time charge of $294 million. In the year-ago quarter, the company earned $309.1 million, or 25 cents a share. According to Thomson Financial/First Call, analysts were expecting 29 cents a share.
Revenue for the quarter was $1.57 billion, up 16% from $1.36 billion in the year-ago quarter.
The company also said it expects third-quarter revenue and earnings to top the company's 15% goals, with earnings per share of about 30 cents, in line with Wall Street's expectations. For the full fiscal year, the company expects earnings of $1.21 to $1.23, also in line with Wall Street's estimate.
Shares of Medtronic were recently trading up 1.6% to $44.75 in premarket trading on Instinet after closing at $44.04 Tuesday.