Medtronic 3Q Revenue Rises on Strength in Cardiovascular, Neuroscience

Dow Jones

Feb 18, 2025

By Dean Seal

Medtronic said steady demand for its cardiovascular and neuroscience products boosted revenue in its fiscal third quarter, though the top line was below analyst forecasts.

The medical-technology company posted a profit of $1.29 billion, or $1.01 a share, for the quarter ended Jan. 24. That's down year over year from $1.32 billion, or 99 cents a share on a smaller base of outstanding shares.

Stripping out one-time items, adjusted earnings were $1.39 a share. Analysts surveyed by FactSet had expected $1.36 a share.

Revenue rose 2.5% from a year ago to $8.29 billion, behind analyst projections for $8.33 billion, according to FactSet.

The top line rose more than 4% on an organic basis, with gains from its cardiovascular portfolio and neuroscience division that offset a pullback in its medical surgery business.

Medtronic is sticking by its full-year guidance for revenue to rise 4.75% to 5% and earnings to be $5.44 to $5.50 a share.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 18, 2025 07:09 ET (12:09 GMT)

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