Medtronic (NYSE:MDT) narrowed its annual earnings forecast for the fiscal 2025 year but raised the organic revenue growth outlook. The company’s shares rose nearly 1% in premarket trading Tuesday.
For the fiscal Q2, the medical device maker posted adjusted earnings per share (EPS) of $1.26, just above the consensus estimate of $1.25. Revenue for the period stood at $8.4 billion, exceeding analyst expectations of $8.28 billion.
Looking ahead, Medtronic updated its full-year fiscal 2025 guidance, narrowing its adjusted EPS outlook to a range of $5.44 to $5.50, compared to the prior range of $5.42 to $5.50 and the consensus estimate of $5.45.
The company also adjusted its organic revenue growth forecast, now expecting a range of 4.75% to 5%, up from the earlier estimate of 4.5% to 5%.
"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," said Geoff Martha, Medtronic chairman and CEO.
"Innovation matters, and innovation is really driving our growth today. As we look ahead, we're confident that this diversified growth will keep going, especially given the strength of our pipeline in high-impact markets that will allow us to benefit even more patients around the world."