Medtronic reports year-on-year growth in Q2 2014

Medtronic has reported positive growth during the second quarter of its 2014 fiscal year, which ended on October 25th 2013.

The company's worldwide revenue for the period came to $4.19 billion (2.6 billion pounds), up by 3.3 percent on a constant currency basis, while second quarter net earnings rose by 40 percent to $902 million.

Most of Medtronic's core business units saw an improved performance during the three months, thanks to the successful launch of several new products. Stronger sales from certain divisions helped to offset weaker results elsewhere.

For the year as a whole, the firm continues to expect full-year revenue growth in the range of three to four percent on a constant currency basis.

Omar Ishrak, Medtronic's chairman and chief executive officer, said: "Our second quarter revenue growth was in line with our outlook for the year and we are performing at or better than the market in almost every one of our business lines."

This comes after the company was named to the Dow Jones Sustainability World Index in September 2013, reflecting its status as one of the most environmentally-conscious businesses in the world.