Medtronic reports Q3 revenue at $7.3B, 1% increase: 5 things to know

Laura Dyrda -   Print  |

Medtronic reported $7.3 billion in third quarter 2018 revenue, a 1 percent increase over he same period last year.


Here are five things to know:


1. During the quarter, Medtronic reported GAAP net loss at nearly $1.4 billion, and GAAP results include a $2.2 billion net charge related to the U.S. transition tax change, part of the U.S. tax reform.


2. Medtronic's U.S. revenue represented 53 percent of overall revenue, hitting $3.9 billion. U.S. revenue was down 5 percent over the same period last year, while non-U.S. developed markets increased 7 percent to $2.3 billion. Emerging markets represented 15 percent of Medtronic's revenue and increased 12 percent to $1.1 billion.


3. Spine revenue increased 1 percent in the third quarter, hitting $661 million. The BMP line revenue grew in the mid-single digit while core spine reported low-single digit declines.


4. Pain therapies revenue increased 10 percent to $33 million, returning to growth on the strength of the Intellis platform for spinal cord stimulation in addition to a growing drug pumps line.


5. Brain therapies revenue was up 13 percent to $585 million while neurosurgery grew in the low-double digits due to the StealthStation surgical navigation system and O-arm 2 surgical imaging system.


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