Medtronic reported financial results for the third quarter of fiscal year 2025, demonstrating continued revenue growth and strong earnings performance. The company generated $8.3 billion in revenue, marking a 2.5% increase as reported and 4.1% on an organic basis. GAAP diluted earnings per share (EPS) rose 2% to $1.01, while non-GAAP diluted EPS increased 7% to $1.39.

The Cardiovascular segment achieved 3.7% revenue growth, driven by strong adoption of pulsed field ablation (PFA) products, with Cardiac Rhythm & Heart Failure revenue increasing 5.1%. The Neuroscience segment grew 4.4%, benefiting from robust demand for neuromodulation devices, including spinal cord stimulators and deep brain stimulators. The Medical Surgical division saw a slight revenue decline of 1.9%, affected by challenges in the stapling segment and changes in U.S. distributor buying patterns. Meanwhile, the Diabetes segment posted 8.4% revenue growth, supported by continued adoption of the MiniMed 780G insulin pump system.

Medtronic reaffirmed its fiscal year 2025 guidance, expecting organic revenue growth between 4.75% and 5% and non-GAAP EPS in the range of $5.44 to $5.50. The company anticipates accelerating both revenue and earnings growth in the fourth quarter, with high-single-digit adjusted EPS growth in the latter half of the fiscal year.

The company also highlighted strategic milestones, including an expansion in the carotid stenting market, a new manufacturing site approval for pulsed field ablation devices, and regulatory progress in renal denervation for hypertension treatment. A video webcast discussing the results is available on Medtronic’s investor relations website.