Medtronic reports 3% revenue dip in Q2

Spinal Tech

Medical device company Medtronic reported $7.6 billion in revenue during the second quarter of fiscal year 2023.

Four things to know about the company's second-quarter financial performance:

  1. Medtronic saw a 3 percent dip in reported revenue, but saw a 2 percent increase in organic growth.
  2. Medtronic brought in $2.19 billion from its neuroscience portfolio
  3. The company reported a GAAP diluted earnings per share of $0.32, a decrease of 67 percent, and a non-GAAP diluted earnings per share of $1.30, a decrease of 2 percent.
  4. The company said in a Nov. 22 news release that it expects to see more organic revenue growth during the second half of the fiscal year.

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