Total Revenue

5.8% " " "

Total Revenue increased from $22.447 billion to $23.743 billion, reflecting improved overall business performance driven by momentum in key segments. The growth builds on prior period operational gains and benefits from a more favorable mix of product and geographic sales. " " "

Innovative Medicine

4.9% " " "

Innovative Medicine revenue rose from $14.490 billion to $15.202 billion, benefiting from continued product launches, regulatory milestones, and a more favorable cost structure after one-time COVID-related exit costs in previous periods. This reflects a steady improvement in operational performance. " " "

MedTech

7.3% " " "

MedTech revenue increased from $7.957 billion to $8.541 billion, driven by strong operational growth in subsegments such as Cardiovascular and Vision, along with the impact of strategic acquisitions boosting operational sales compared to the prior period. " " "

United States Revenue

7.8% " " "

U.S. revenue grew from $12.569 billion to $13.544 billion, indicating robust performance driven by a favorable patient mix and strong sales across both Innovative Medicine and MedTech segments. This follows prior period improvements with amplified market demand locally. " " "

European Revenue

3.3% " " "

European revenue increased from $5.214 billion to $5.387 billion, showing modest operational improvement and some benefit from currency effects compared to previous periods that were challenged by higher operational decline and currency headwinds. " " "

Asia-Pacific and Africa

4.5% " " "

Revenue in Asia-Pacific and Africa rose from $3.452 billion to $3.606 billion, as operational performance improved and the negative impact of currency fluctuations was better managed relative to the previous period. " " "

Reported Sales Growth (%)

FY 2025

Expected between 2.6% to 3.6%, with a midpoint of $91.4 billion or 3.1% "

Expected between 5.1% to 5.6%, with a midpoint of $93.4 billion or 5.4% "

raised

Operational Sales Growth (%)

FY 2025

Increased by $700 million; range 3.3% to 4.3%, with a midpoint of $92 billion or 3.8% "

Increased by approximately $900 million; range 4.5% to 5%, with a midpoint of $92.9 billion or 4.8% "

raised

Adjusted Operational Sales Growth (%)

FY 2025

Maintained in the range of 2% to 3% compared to 2024 "

Expected in the range of 3.2% to 3.7% compared to 2024 "

raised

Adjusted Reported EPS ($USD)

FY 2025

Maintained at 6.2% at the midpoint for a range of $10.50 to $10.70 "

Increased by $0.25 to $10.85, with a range of $10.8 to $10.9 "

raised

Operating Margin Improvement (bps)

FY 2025

Expected improvement by 300 basis points "

Guided to an approximate improvement of 300 basis points "

no change

Net Interest Expense ($USD)

FY 2025

Projected to be between $100 million and $200 million "

Projected to be between $0 and $100 million "

lowered

Tariffs Impact ($USD)

FY 2025

A $400 million impact "

Approximately $200 million impact "

lowered

Effective Tax Rate Guidance

FY 2025

no prior guidance [N/A]

Expected to be between 17% to 17.5% "

no prior guidance

Adjusted Operational EPS ($USD)

FY 2025

no prior guidance [N/A]

Increased guidance to $10.68 or 7% at the midpoint "

no prior guidance