St. Jude Medical Q2 revenues up 29%; EPS up 7%; earnings guidance raised

• St. Jude Medical (NYSE:STJ) Q2 results ($M): Total Revenues: 1,410 (+28.5%); ICD: 421 (-8.9%); Pacemakers: 249 (-8.1%); AF: 279 (+8.6%); Cardiovascular: 343 (-2.3%); Structural Heart: 159; Vascular: 184; Neuromodulation: 118 (+10.3%).
• Net Income: 290 (+7.4%); EPS: 1.02 (+9.7%).
• ICD sales growth has decelerated the past five quarters: 2.1%; 1.8%; 1.0%; -3.6%; -5.7%; -8.9%.
• 2015 Guidance: Revenues: $5.435B - 5.575B from $5.440B - 5.515B; Non-GAAP EPS: $3.96 - 4.00 from $3.92 - 3.97.
• Q3 Guidance: Revenues: $1.325B - 1.365B; Non-GAAP EPS: $0.96 - 0.98.