Medical device maker Medtronic plc (NYSE: MDT) reported a decline in adjusted earnings for the second quarter of 2024, despite an increase in revenues.
Second-quarter earnings, adjusted for special items, dropped 4% annually to $1.25 per share. Meanwhile, unadjusted net profit more than doubled to $909 million or $0.68 per share during the three-month period.
All four operating segments expanded in the October quarter, driving up total revenues to about $8 billion. The management expects organic revenue to grow 4.75% in fiscal 2024.