Summary by Moomoo AI
Medtronic reported Q1 FY25 revenue of $7.9B, up 2.8% as reported and 5.3% organic. GAAP EPS increased 36% to $0.80, while non-GAAP EPS rose 3% to $1.23. The Cardiovascular portfolio grew 6.9% organic, Neuroscience 5.3%, and Diabetes 12.6%, driven by new product innovations.The company raised its FY25 organic revenue growth guidance to 4.5-5% from 4-5% previously. Non-GAAP EPS guidance was also increased to $5.42-$5.50, representing 4-6% growth. Medtronic cited strong performance across key health tech markets, including Automated Insulin Delivery, Transcatheter Aortic Valve Replacement, and Pulsed Field Cardiac Ablation.CEO Geoff Martha emphasized the company's execution, market health, and innovation-driven growth. Interim CFO Gary Corona noted that revenue outperformance flowed through to the bottom line, with adjusted EPS ahead of expectations. Medtronic expects to sustain growth from new product introductions while continuing to invest in launches and restore earnings power.
