Medtronic (MDT) Tops Q2 EPS by 7c, Beats on Revenue; Raises EPS Guidance

Medtronic (NYSE: MDT) reported Q2 EPS of $1.25, $0.07 better than the analyst estimate of $1.18. Revenue for the quarter came in at $8 billion versus the consensus estimate of $7.93 billion.

The company increased its FY24 diluted non-GAAP EPS guidance from the prior range of $5.08 to $5.16 to the new range of $5.13 to $5.19, a 4 cent increase at the midpoint. Given the change in foreign currency exchange rates over the past quarter, the foreign exchange impact on FY24 diluted non-GAAP EPS is now estimated to be 2 cents more unfavorable in the second half and is estimated to be a 6% unfavorable impact for the full year.

For earnings history and earnings-related data on Medtronic (MDT) click here.

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