Quarterly Performance and Growth: Medtronic reported a strong Q2 with a 5% organic revenue growth and an 8% EPS growth on a constant currency basis. This marks the eighth consecutive quarter of mid-single-digit organic revenue growth. The company is on track to deliver high single-digit EPS growth in the second half of the fiscal year, projecting fiscal '25 organic revenue growth between 4.75% to 5%.
Strong Performance Across Segments: Notable segment performances included double-digit growth in Diabetes (up 11%) and high single-digit growth in Cardiac Ablation Solutions and Neuroscience (both around 8%). The Structural Heart segment saw strong performance due to the TAVR franchise and new product launches.
Challenges and Supply Chain Issues: Specific challenges were faced in the Cardiac Ablation Solutions segment due to a third-party component supplier interruption. However, this issue has been resolved, and capacity is expected to ramp up, allowing for strong double-digit growth in Q3. Cryoablation technology continues to see declines, though the rate of decline has improved sequentially.