WASHINGTON—SECOND-QUARTER SURPRISE: Medtronic posted better-than-expected earnings in the last quarter as sales of new devices and reduced expenses overcame sluggish performance for two of the company's biggest businesses: heart defibrillators and spinal implants.
GUIDANCE AFFIRMED: Medtronic executives reaffirmed their forecast for full-year earnings of $3.43 to $3.50 per share. The company expects its revenue to grow by 1 percent to 3 percent in the second half of the year.
NO-SPIN ZONE: Medtronic CEO Omar Ishrak told analysts he does not expect Medtronic to spin off any additional business units following last week's announcement that its Physio-Control unit would be sold to Bain Capital.
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