Aug 22, 2023

Strong Q1 earnings for Medtronic: three things to know

Innovation and strong execution drive business performance

Medtronic announced first-quarter financial results on Tuesday. Here are three things to know: 

adding value

A strong start to the fiscal year 

We started the year strong – and broad. Businesses across the company contributed to our overall revenue growth. Innovation, strong execution, and improvements in fundamentals like supply chain and our markets all drove strong performance during the first quarter.  

Innovation led the way 

We launched key products in the U.S., including Diabetes’ MiniMed™ 780G system with Guardian™ 4 sensor and next generation Micra™ AV2 and Micra™ VR2 leadless pacemakers. And many additional important therapies and technologies, including our market-leading Aible™ spine technology ecosystem, continued to fuel our revenue growth. 

A brighter forecast 

After a strong first quarter, we increased our revenue growth and earnings per share guidance for the full 2024 fiscal year. We will also continue to invest in research and development – with a focus on technology megatrends like robotics – and transform our business to drive durable growth. 


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