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 MINNEAPOLIS (AP) - Medical device maker Medtronic Inc. reported a 23 percent jump in quarterly income Tuesday as it continued to benefit from a recall at competitor Guidant Corp. But revenue disappointed Wall Street.
Medtronic said it earned $669.6 million, or 55 cents per share, during its third quarter, up from $544.1 million, or 45 cents per share, in the same period last year. The results matched the estimate of analysts polled by Thomson Financial.
Revenue rose 9 percent to $2.77 billion. Wall Street was expecting nearly $2.9 billion.
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