Medtronic (MDT) Revenue — Quarter Ended Jan 27, 2023
Revenue for the quarter increased compared to the immediately preceding quarter but decreased relative to the same quarter one year earlier. The sequential improvement was partially offset by a year-over-year decline.
Key takeaway
Quarter ended Jan 27, 2023 · FY2023 Q3
Revenue for the quarter increased compared to the immediately preceding quarter but decreased relative to the same quarter one year earlier. The sequential improvement was partially offset by a year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$7.7B
Revenue reported for this quarter.
Quarter-over-quarter
+1.9%
Change from the immediately preceding quarter.
Year-over-year
-0.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$30.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Apr 29, 2022 | $8.1B | -1.2% |
| Jul 29, 2022 | $7.4B | -7.7% |
| Oct 28, 2022 | $7.6B | -3.3% |
| Jan 27, 2023 | $7.7B | -0.5% |
Revenue performance
Revenue rose sequentially, driven by growth from the prior quarter, but fell short of the level achieved in the same quarter last year.
Quarterly comparison
Compared to the prior quarter, revenue was higher. Compared to the same quarter one year earlier, revenue was lower.
What to watch
Operating cash flow decreased year over year, primarily due to a decline in cash collected from customers.