Medtronic on Aug. 22 posted $7.7 billion in revenue for the first quarter of fiscal year 2024.
Four things to know:
1. Quarterly sales grew 4.5 percent year-over year, according to a news release.
2. Medtronic's neuroscience business grew 4.9 percent year-over-year with $2.2 billion in sales. Factors include growth for the Mazor spine robot and StealthStation navigation system.
3. The neuromodulation segment saw mid-single digit growth with strength in the Percept and Intellis devices.
4. Medtronic raised its guidance for fiscal year 2024 and expects full-year revenue growth of 4.5 percent.