Medtronic quarterly revenue beats, margins disappoint
Sales in its biggest business, the cardiac and vascular unit that sells defibrillators, pace-makers, heart valves and stents, jumped 10 percent to $2.8 billion, partly helped by a successful launch of its Evolut Pro transcatheter heart valve. The increasingly competitive market for transcatherter valves, used to replace diseased aortic valves without open-heart surgery, is expected to expand from $3 billion currently to $5 billion in 2021 as more types of patients get treated with the valves. “Our revenue performance is highly dependent on new product launch process and when we’ve got new products, the revenue growth goes up quite significantly especially with respect to the market,” said Chief Executive Officer Omar Ishrak.
Source:: https://finance.yahoo.com/news/medtronic-posts-loss-due-2-120738313.html
