Strong Second Quarter Performance
Medtronic's revenue and EPS exceeded expectations, driven by strong performance across various segments. The company raised its revenue growth and EPS guidance for the full year.
Cardiac Ablations Business Growth
The cardiac ablations business grew 71%, with PFA franchise growing over 300% in the U.S. and international markets. This growth is attributed to the Ferra mapping system and Sphere nine dual energy catheter.
Launch of Innovative Technologies
Successful launches of Simplicity for hypertension, HUGO and soft tissue robotics, and AltaViva for incontinence are expected to drive future growth.
Revenue and Geographic Growth
Second quarter revenue was $9 billion, growing 6.6% reported and 5.5% organic. Growth was balanced across geographies, with double-digit growth in Japan and mid-single-digit growth in the U.S., Western Europe, and China.
Diabetes Business Progress
The diabetes business saw high single-digit growth, with international markets growing 11%. New sensor launches are driving pent-up demand and orders.