Medtronic on May 26 posted a dip in spine sales in the fourth quarter of fiscal year 2022.
Five things to know:
1. The neuroscience business saw fourth quarter revenue of $2.3 billion, unchanged from the same time last year. For the entire 2022 fiscal year, revenue was $8.8 billion, a 7 percent increase from last year.
2. Cranial and spinal technologies in the fourth quarter saw a 2 percent decrease in sales year over year with $1.2 billion.
3. Fourth quarter revenue of $8.1 billion was a 1 percent decrease year over year.
4. Total revenue in fiscal year 2022 grew 5 percent compared to fiscal year 2021.
5. Medtronic's quarterly dividend increased 8 percent year over year.