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Medtronic's Q1 Topline Tumbles Due To Global IT Crash

Executive Summary

Medtronic first quarter sales fell short of expectations with the company reporting worldwide revenue of $7.4bn, lagging behind analysts predicted revenue of $7.45 billion. The medtech giant said its top line had been impacted by a global meltdown of its IT systems on June 19 that affected the ability to process, ship and manufacture orders for a week.

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