Medical equipment maker, Medtronics has shown better than expected profit figures but has on the same hand reduced its forecasts figures for the crest of the year.

The firm earned $830 million during the past quarter which is higher than $445 million that it was able to do during the same quarter last year. This means that against 40 cents per share the earnings have now gone up to 76 cents per share.

If the one-time items are excluded then it saw a revenue of $830 million or 83 cents, which is in line with the analyst expectations of Thomson Reuters.

The revenue was less than expected as per Medtronics terms since it had to face revamping charges and also legal fees.

For the quarter ending June 30, the revenue of the company fell by 4 per cent to end at $3.77 billion. A part of this fall was the result of fluctuation in foreign currency as well as an extra payment of $200 million for an extra week in year-earlier period.

And since the global health care market has seen a decrease in utilization and rise in prices, it has also reduced its forecast for the rest of the year.