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Medtronic Medtronic Reports First Quarter Fiscal 2022 Financial Results August 24 , 2021 Strong Financial Performance on Continued Procedure Volume Recovery and Share Gains from New Product Launches DUBLIN , Aug. 24 , 2021 / PRNewswire / -- Medtronic plc ( NYSE : MDT ) today announced financial results for its first quarter of fiscal year 2022 , which ended July 30 , 2021 . MEDTRONIC FY22 Q1 EARNINGS STRONG RECOVERY NEW PRODUCTS DRIVING SHARE GAINS STRATEGIC INVESTMENTS AHEAD OF MAIOR PRODUCT LAUNCHES REVENUE $ 8.0B 23 % AS REPORTED 19 % ORGANIC EPS $ 0.56 DILUTEDEPSAS REPORTED $ 1.41 ABASTED SLUTS IN PORTFOLIOS CARDIOVASCULAR MEDICAL SURGICAL $ 2.89B $ 2.32B P 27 % NEUROSCIENCE $ 2.20B $ 572M ON Arts and an unte ww Sher fans kilpaalta zapora Aur travia nemues.fart Pe de media www.a Key Highlights LEADERSHIP PERSPECTIVES GEOFF MARTHA MEDTRONIC Chairman and CEO expectationsecting oldtion and continue procedure volume recovery with most of our time to be pre - Como Management Surgical Innovations and Cranial & front of LA , with rear - baran milestones in both prowth Businesses . These opportunities , combined with KAREN PARKHILL MEDTRONIC CFO " We're rating our revenue guidance for the year while increasing the lower and of our DPS range the back of our first quarter results angulong - term revenue growth and generating shareholders by increasing our investments thof major product launche company , and executing disciplined tuck - in kamena preden sans tabas pa at gen ( 8 ) . Ongen framg ESPELAT NA PRE reopener man na ma way to make a part • Revenue of $ 8.0 Billion Increased 23 % Reported and 19 % Organic • GAAP Diluted EPS of $ 0.56 ; Non - GAAP Diluted EPS of $ 1.41 • Company Reiterates FY22 Revenue Guidance ; Raises Lower End of FY22 EPS Guidance by 5 cents " FY22 is off to a strong start - Q1 reflects solid execution & continued procedure recovery " Chairman & CEO Geoff Martha The company reported first quarter worldwide revenue of $ 7.987 billion , an increase of 23 % as reported and 19 % on an organic basis , which excludes the $ 245 million benefit of foreign currency translation . Revenue growth rates have not been adjusted for the negative impact of the extra selling week in the first quarter of last fiscal year . The company's first quarter results reflect a strong recovery from the impact of the COVID - 19 pandemic on elective procedures that the company experienced in 2020. Unless otherwise stated , all revenue growth rates in this press release are stated on an organic basis , which excludes the impact of foreign currency translation . As reported , first quarter GAAP net income and diluted earnings per share ( EPS ) were $ 763 million and $ 0.56 , respectively , increases of 57 % and 56 % , respectively . As detailed in the financial schedules included at the end of this release , first quarter non - GAAP net income and non - GAAP diluted EPS were $ 1.908 billion and $ 1.41 , respectively , increases of 128 % and 127 % , respectively . First quarter U.S. revenue of $ 4.101 billion represented 51 % of company revenue and increased 22 % . Non - U.S . developed market revenue of $ 2.601 billion represented 33 % of company revenue and increased 20 % as reported and 11 % organic . Emerging Markets revenue of $ 1.286 billion represented 16 % of company revenue and increased 31 % as reported and 25 % organic . " Fiscal 2022 is off to a strong start with our first quarter results coming in ahead of our expectations , reflecting solid execution and continued procedure volume recovery , with most of our businesses at or above pre - COVID levels , " said Geoff Martha , Medtronic chairman and chief executive officer . " In addition , we drove market share gains across a number of our businesses , including three of our largest : Cardiac Rhythm Management , Surgical Innovations , and Cranial & Spinal Technologies . Looking ahead , we have some big opportunities in front of us , with near - term milestones in both our