Medtronic announced financial results for the second quarter of its 2024 fiscal year, reporting revenue growth and raising its guidance. Here are three things to know:  

Delivering on innovation 

Several key Medtronic products received regulatory approvals in recent months. During the second quarter, the U.S. Food and Drug Administration (FDA) approved the Aurora EV-ICD™ system. Unlike traditional implantable cardioverter defibrillators, Aurora is implanted below the left armpit and the lead is placed under the breastbone using a minimally invasive approach. The company also recently received approvals for the the Symplicity Spyral™ renal denervation (RDN) system in the U.S. and the PulseSelect™ pulsed field ablation (PFA) system in CE Mark countries.  

Strong and broad fundamentals 

Medtronic reported growth across key businesses and continues to invest in fast-growing technologies such as artificial intelligence, robotics, and closed-loop systems. The company’s Cardiovascular, Neuroscience, and Medical Surgical business all increased revenue by mid-single digits and Diabetes achieved high-single digit growth. 

Beating expectations , raising guidance 

After outperforming expectations in the second quarter, Medtronic also raised its guidance – for both organic revenue growth and earnings per share – for full 2024 fiscal year. 

L009-11202023 

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