Medtronic reports full year and fourth quarter fiscal 2023 financial results; announces dividend increase

Mid-single digit fourth quarter revenue growth exceeded expectations on broad-based strength across the company dublin , may 25, 2023 /prnewswire/ -- medtronic plc (nyse:mdt) today announced financial results for its fourth quarter and fiscal year 2023, which ended april 28, 2023. fourth quarter (q4) key highlights q4 revenue of $8.5 billion increased 5.6% as reported and organic, ahead of expectations  q4 gaap diluted eps of $0.88 decreased 20%; non-gaap diluted eps of $1.57 increased 3% in the quarter, ahead of expectations  q4 revenue growth acceleration was broad-based, driven by procedure volume recovery, supply improvements, and innovative product introductions  strength in international markets in q4, with high-single digit organic growth in non-u.s. developed markets and low-double digit organic growth in emerging markets  pipeline momentum in q4 with ce mark of the affera™ mapping and navigation system and aurora™ extravascular icd, and u.s. fda approval of the minimed™ 780g system with guardian™ 4 sensor  announced strategic collaboration with nvidia to accelerate ai innovation for healthcare  completed divestiture of renal care solutions business to mozarc medical, a joint venture with davita additional key highlights dividend increased to $0.69 per share quarterly, annual $2.76 per share; 46th consecutive year of dividend increases  named one of the 2023 world's most ethical companies® by ethisphere and increased ranking to #2 on diversityinc's 2023 top 50 companies for diversity  company issues fy24 guidance fourth quarter (q4) financial results medtronic reported q4 worldwide revenue of $8.544 billion, an increase of 5.6% both as reported and on an organic basis.
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