Medtronic plc (0Y6X.L) Q2 2026 Earnings Report

Medtronic reported a solid Q2 FY2026 with revenue of USD 8.961 billion, up 8.1% year over year and 4.5% sequentially. Gross profit was USD 5.405 billion for a gross margin of 60.3%, while operating income reached USD 1.685 billion and the company delivered net income of USD 1.374 billion (EPS USD 1.07). Despite revenue growth, gross profit declined slightly versus the year-ago quarter (YoY gross profit change of -1.96%), suggesting some mix effects or input-cost dynamics that warrant close monitoring. The company carries a net cash position (cash and cash equivalents of USD 2.013 billion) and reported a robust balance-sheet liquidity backdrop, although balance-sheet data in the provided dataset contains some inconsistencies (negative asset values in several lines), which should be treated cautiously until corroborated by the official filing. The results reflect Medtronic’s diversified portfolios across Cardiovascular, Medical-Surgical, Neuroscience, and Diabetes segments, underpinned by ongoing R&D investment and a broad international footprint.