What changed
Adjusted EPS of $0.71 beat the $0.64 consensus by $0.07 (+10.9%). Revenue came in at $3.75B, down 0.3% YoY, essentially flat on both a reported and operational basis. Management raised FY2026 guidance midpoints across all metrics, now guiding adjusted EPS of $2.56-$2.63 and revenue of $14.7B-$14.9B. The top line was pressured by continued supply constraints in Europe and Emerging Markets and additional competition on certain products, which offset new product sales and strength in Greater China.
Why it matters
Adjusted EPS of $0.71 beat the $0.64 consensus by $0.07 (+10.9%). Revenue came in at $3.75B, down 0.3% YoY, essentially flat on both a reported and operational basis. Management raised FY2026 guidance