Summary by Moomoo AI
Medtronic reported Q2 FY2025 revenue of $8.4 billion, up 5% year-over-year, with GAAP diluted EPS rising to $0.99 from $0.68. Cardiovascular segment revenue grew 6% to $3.1 billion, driven by strong performance in TAVR and Cardiac Rhythm Management. Neuroscience revenue increased 7% to $2.5 billion, boosted by growth in Neuromodulation and Spine products.The company's Medical Surgical segment revenue rose 1% to $2.1 billion, while Diabetes revenue surged 12% to $686 million, propelled by strong U.S. adoption of the MiniMed 780G automated insulin delivery system. Medtronic's gross margin decreased slightly due to unfavorable currency impact, but operating cash flow improved to $1.9 billion for the first half of the fiscal year.Looking ahead, Medtronic remains focused on innovation and expanding its product pipeline. The company highlighted ongoing clinical trials and recent regulatory approvals, including the U.S. FDA approval of Asleep DBS surgery for Parkinson's and essential tremor patients. Medtronic also noted potential impacts from the implementation of global minimum tax rules and ongoing legal proceedings in various jurisdictions.
