Medtronic has reported a net income of $1.27bn for the second quarter (Q2) of fiscal year 2025 (FY 2025), marking a substantial rise from $911m in the same quarter of the previous year.
Net income attributable to the company was reported to be $1.27bn for the period which ended on 25 October 2024, compared to $909m in the prior year, indicating consistent growth.
Worldwide revenue for the quarter reached $8.403bn, an uptick of 5.3% as reported and 5% on an organic basis.
Diluted earnings per share (EPS) also increased significantly, 46% to $0.99.
The cardiovascular portfolio was a strong performer, with revenue climbing to $3.10bn in Q2 FY 2025, up by 6.1% from $2.92bn reported in FY 2024.
In the neuroscience segment, Medtronic reported revenue of $2.45bn for the quarter, a 7.1% increase from $2.28bn in the previous year.
The medical-surgical portfolio saw a more modest rise of 1.2% from $2.10bn last year to $2.12bn this year.
The company’s diabetes portfolio demonstrated impressive growth with revenues surging by 12.4% to $686m in FY 2025 from $610m in Q2 of the previous year.
Non-GAAP net income and diluted EPS stood at $1.620bn and $1.26 respectively, representing a 3% decrease and a 1% increase, respectively.
Medtronic chairman and CEO Geoff Martha said: “Our momentum is building as we keep executing on our commitments, delivering yet another consecutive quarter of strong results that came in ahead of expectations.