On Wednesday, Medtronic plc (NYSE:MDT) reported fourth-quarter revenue that exceeded Wall Street expectations, supported by strong growth in its Cardiovascular and Diabetes businesses.
Earnings Beat Expectations
Adjusted earnings came in at $1.55 per share, slightly above analysts’ estimates of $1.54 per share.
Revenue increased 9.9% year over year to $9.81 billion, topping the consensus estimate of $9.64 billion. Organic revenue growth was 6.6%.
Cardiovascular revenue rose 13.8% year over year to $3.80 billion, or 10.1% organically, driven by high-teens growth in Cardiac Rhythm & Heart Failure and modest gains in Structural Heart & Aortic and Coronary & Peripheral Vascular.
