Medtronic (MDT) Revenue — Quarter Ended Apr 28, 2023
Revenue for the quarter rose both sequentially and compared with the same quarter one year earlier. The improvement marked a reversal from the prior-year declines seen in earlier periods of the fiscal year.
Key takeaway
Quarter ended Apr 28, 2023 · FY2023 Q4
Revenue for the quarter rose both sequentially and compared with the same quarter one year earlier. The improvement marked a reversal from the prior-year declines seen in earlier periods of the fiscal year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$8.5B
Revenue reported for this quarter.
Quarter-over-quarter
+10.6%
Change from the immediately preceding quarter.
Year-over-year
+5.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$31.2B
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 |
|---|---|---|
| Jul 29, 2022 | $7.4B | -7.7% |
| Oct 28, 2022 | $7.6B | -3.3% |
| Jan 27, 2023 | $7.7B | -0.5% |
| Apr 28, 2023 | $8.5B | +5.6% |
Revenue performance
The reported revenue reflects a strong sequential increase from the preceding quarter and a year-over-year gain. It was the first quarter in the fiscal year to post positive year-over-year growth.
Quarterly comparison
Compared to the immediately preceding quarter, revenue showed a solid sequential improvement. Versus the same quarter last year, the company also delivered a year-over-year increase, contrasting with the declines reported in each of the three prior quarters.
What to watch
Monitor whether revenue can sustain its growth trajectory given the prior pattern of year-over-year declines.