Medtronic posted $7.9 billion in sales for the first quarter of fiscal year 2025, according to an Aug. 20 news release.
Six notes:
1. Quarterly sales rose 2.8% year over year.
2. Medtronic's cranial and spinal technologies segment saw $1.1 billion in quarterly sales, an increase of 4% year over year.
3. The company's neuroscience portfolio saw $2.3 billion in sales, up 4.4% year over year.
4. Medtronic's medical surgical portfolio grew 0.4% year over year with $2 billion in sales. The cardiovascular portfolio saw $3 billion in sales, a 5.5% increase year over year.
5. Medtronic raised its guidance for fiscal year 2025 and expects to see full-year growth of 4.5% to 5% year over year.
6. Net income was $1 billion, a 32% increase year over year.