Medtronic (MDT) Tops Q2 EPS by 2c; Guides FY23 EPS Below the Street

Medtronic (NYSE: MDT) reported Q2 EPS of $1.30, $0.02 better than the analyst estimate of $1.28. Revenue for the quarter came in at $7.6 billion versus the consensus estimate of $7.7 billion.

GUIDANCE:

Medtronic sees FY2023 EPS of $5.25-$5.30, versus the consensus of $5.53. The company expects fiscal year 2023 second half revenue growth of 3.5% to 4.0% on an organic basis, an acceleration over the first half. If foreign currency exchange rates as of the beginning of November hold, revenue growth in fiscal year 2023 would be negatively affected by approximately $1.740 billion to $1.840 billion versus the previously stated $1.4 billion to $1.5 billion impact.

For earnings history and earnings-related data on Medtronic (MDT) click here.

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