Medtronic Reports Q2 EPS Beat While Revenues Miss
<p><a href='https://financialmodelingprep.com/financial-summary/MDT'>Medtronic (NYSE:MDT)</a> reported its Q2 results on Tuesday, with EPS of $1.30 coming in better than the Street estimate of $1.28. Revenue was $7.6 billion, compared to the Street estimate of $7.7 billion.</p>
<p>Management noted supply chain issues (particularly in Surgical Innovations) took longer than expected to resolve in Q2, impacting the H2 ramp (including lost sales to a competitor, sales management anticipates recapturing).</p>
<p>The company expects fiscal 2023 EPS to be in the range of $5.25-$5.30, compared to the Street estimate of $5.53. Management anticipates H2/2023 revenue growth in the range of 3.5%-4.0% on an organic basis, an acceleration over H1.</p>

NYSE:MDT