Medtronic Q3 FY2023 revenue $7.73B (+4.1% organic), non-GAAP EPS $1.30, raises FY guidance

Medtronic plc

2023-Q3 EPS reported $1.94 revenue$22,682,000,000

Revenue $7.727B flat as reported, +4.1% organic; GAAP EPS $0.92 (-16%), non-GAAP EPS $1.30 (-4%), both ahead of expectations.
Cardiovascular +7% organic, Neuroscience +7% organic; Medical Surgical -2% organic (ex-ventilator/China +3%).
FY2023 non-GAAP EPS guidance raised to $5.28-$5.30 from $5.25-$5.30; Q4 organic revenue growth expected 4.5-5.0%.
Planned separations: Respiratory/Patient Monitoring (H2 FY2024) and Renal Care Solutions with DaVita (Q4 FY2023).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Medtronic plc reported third quarter fiscal year 2023 ended January 27, 2023 results: revenue $7.727 billion, net income $1.222 billion (GAAP); $1.727 billion (non-GAAP), EPS $0.92 (GAAP diluted); $1.30 (non-GAAP diluted). Guidance raised.

Period: third quarter fiscal year 2023 ended January 27, 2023
Revenue: $7.727 billion
Net income: $1.222 billion (GAAP); $1.727 billion (non-GAAP)
EPS: $0.92 (GAAP diluted); $1.30 (non-GAAP diluted)
Guidance: raised
Result: reported results

Exact text from the filing

Medtronic reports third quarter fiscal 2023 financial results Delivers top and bottom line ahead of expectations, with strength in Cardiovascular and Neuroscience portfolios DUBLIN – Feb. 21, 2023 – Medtronic plc (NYSE:MDT) today announced financial results for its third quarter of fiscal year 2023, which ended January 27, 2023. Key Highlights • Revenue of $7.7 billion was flat as reported and increased 4.1% organic, ahead of expectations • GAAP diluted EPS of $0.92 decreased 16%; non-GAAP diluted EPS of $1.30 decreased 4%, ahead of expectations • Company increases FY23 organic revenue growth and EPS outlook

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