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Medtronic Diabetes Group Shows 13 Percent Revenue Gain

Medtronic’s diabetes group, headquartered in Northridge, reported a 13 percent increase in second-quarter revenue to $367 million. Measured on a constant currency basis, revenues rose 10 percent. The company said growth was driven by strong sales of durable pumps and continuous glucose monitoring products. The overall company, which is based in Minneapolis, reported worldwide revenues of $4.132 billion for the quarter ended Oct. 28, compared with $3.903 billion for the year-ago quarter. Net earnings increased 54 percent to $871 million, or .82 cents per diluted share.

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