Medtronic revenue reaches $9.76 billion amid strong performance

• Medtronic reported Q1 FY27 revenue of $9.756 billion, up 13.7% year over year.
• All major business segments recorded growth, led by Cardiovascular revenue growth of 19.5%.
• Medtronic raised FY27 organic revenue growth guidance to 7.25%–7.75%.

Medtronic (NYSE:MDT) reported first quarter fiscal 2027 revenue of $9.756 billion, up 13.7% year over year on both reported and organic bases, including an estimated $570 million benefit from an additional fiscal week.

The company reported GAAP diluted earnings per share of $1.14 and non-GAAP diluted earnings per share of $1.45, increasing more than 40% and 15%, respectively.

Cardiovascular revenue increased 19.5%, Neuroscience revenue rose 10.3%, Medical Surgical revenue grew 10%, and Diabetes revenue increased 16.9% during the quarter.

Medtronic raised its fiscal 2027 outlook, expecting organic revenue growth of 7.25%–7.75% and non-GAAP diluted EPS of $5.94–$6.

Medtronic develops medical technologies across cardiovascular, neuroscience, surgical, and diabetes care markets, including devices and treatment systems used globally.

The company expanded its technology portfolio during the quarter through CE Mark expansion for Affera technologies, FDA clearance for Touch Surgery Aide, a partnership with Cornerstone Robotics, investment in Pi-Cardia, and acquisitions of Scientia Vascular and SPR Therapeutics.