Medtronic Q1 revenue up 3.1%: 5 things to know

Medtronic on Tuesday reported an increase in first quarter revenue for the 2018 fiscal year, which ended July 28.

Here are five things to know.

  1. The drugmaker's revenue jumped to $7.39 billion, marking a 3.1 percent increase from quarter one of fiscal year 2017.

  1. Sales for Medtronic's cardiac and vascular business increased 5.1 percent year over year to $2.65 billion. The unit accounted for almost 36 percent of the company's total sales.

  1. Net income increased from $929 million in the first quarter of 2017 to $1.02 billion in the first quarter of 2018.

  1. Medtronic said the global computer outage it experienced in June had "some impact" on overall quarterly performance, but was not material to earnings or revenue, according to CNBC.

  1. The drugmaker maintained its full-year earnings and revenue forecasts, projecting adjusted earnings per share will increase 9 percent to 10 percent and revenue to rise 4 percent to 5 percent for the fiscal year ending in April 2018.

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