Core Insights - Medtronic has raised its fiscal year 2026 profit outlook following strong revenue growth in its cardiovascular portfolio, achieving global revenues of nearly $9 billion in Q2 2026, a 6.6% increase from Q2 FY25 [1][2] - The company now expects revenue growth for FY26 to be 5.5%, an increase from the previous expectation of 5% [1] - Medtronic's share price rose by 4.69% to $108.8 following the Q2 results announcement, with a market capitalization of approximately $129 billion [2] Revenue Breakdown - The cardiovascular portfolio was the primary driver of Q2 revenues, generating around $3.44 billion, reflecting a 10.8% increase compared to Q2 FY25 [3] - The pulsed-field ablation (PFA) franchise within the cardiac ablation solutions business unit has been a significant contributor to this growth [3][4] Product Performance - Medtronic's PFA franchise includes the PulseSelect PFA system and the Sphere‑9 Dual Energy Catheter, both of which received FDA approval in late 2023 and 2024 [4] - The PFA market has grown to over $500 million, with the technology gaining traction due to its improved safety profile compared to traditional methods [5] Competitive Landscape - Medtronic's PFA franchise experienced a remarkable growth rate of 71%, significantly up from nearly 50% in the previous quarter, with over 300% growth in the US and strong performance in international markets [6] - Competitor Boston Scientific has also seen substantial growth in its cardiovascular portfolio, with Q3 2025 revenues exceeding $3.3 billion, a 22.4% increase from the previous year [6] Other Business Segments - Medtronic's neuroscience portfolio grew to around $2.5 billion, a 4.5% increase year-over-year, while the medical surgery portfolio also saw a 2.1% rise to approximately $2.5 billion [7] - The diabetes business generated revenues of $757 million, marking a 10.3% increase compared to Q2 FY25 [7]