Medtronic Plc

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Medtronic Reports Second Quarter Fiscal 2023 Financial Results

Published: 11/22/2022 11:58 GMT
Medtronic Plc (MDT) - Medtronic Reports Second Quarter Fiscal 2023 Financial Results.
Q2 Revenue Fell 3 Percent to $7.6 Billion.
Q2 GAAP Earnings per Share $0.32.
Q2 Non-GAAP Earnings per Share $1.30.
Expects Fiscal Year 2023 Second Half Revenue Growth of 3.5% to 4.0% on an Organic Basis, an Acceleration Over First Half.
Qtrly Neuroscience Revenue of $2.186 Billion Increased 2% As Reported and 5% Organic.
Qtrly Cranial & Spinal Technologies Revenue of $1.081 Billion Increased 1% As Reported and 5% Organic.
Qtrly Cranial & Spinal Technologies Revenue of $1.081 Billion Increased 1% As Reported and 5% Organic.
Medtronic - If Foreign Currency Exchange Rates As of Nov Beginning Hold, Revenue Growth in 2023 to Be Negatively Affected by About $1.740 Billion-$1.840 Billion.
Now Expects Fiscal Year 2023 Diluted Non-GAAP EPS in Range of $5.25 to $5.30.
2023 EPS Guidance Includes an Estimated 18 Cent Negative Impact From Foreign Currency at Rates As of Beginning November.
Q2 Earnings per Share View $1.28 -- Refinitiv Ibes Data (analyst estimates).
Q2 Revenue View $7.70 Billion -- Refinitiv Ibes Data (analyst estimates).
FY2023 Earnings per Share View $5.53 -- Refinitiv Ibes Data (analyst estimates).
FY2023 Revenue View $31.54 Billion -- Refinitiv Ibes Data (analyst estimates).
Cardiovascular Reve of $2.773 Billion Down 2% As Reported and Up 4% Organic, With All Three Divisions Returning to Growth This Quarter.
Qtrly Medical Surgical Revenue of $2.070 Billion Decreased 10% As Reported and 3% Organic.