What impacted MDT's net profit decline in Q4 2024?

Medtronic's net income decline in Q4 2024 can be attributed to several key factors:

1. **Higher Costs of Goods Sold and Interest Expenses**: Despite a slight increase in net sales from $31.7 billion in fiscal 2022 to $32.4 billion in 2024, the net income decreased from $5 billion to $3.7 billion. This decline is primarily due to higher costs of goods sold and interest expenses.
2. **Foreign Currency Impact**: The company has faced challenges due to foreign currency fluctuations, which have impacted both its gross and operating margins. This has been a recurring issue, as evidenced by the decline in gross margin from 65.2% in the previous quarter to 64.5% in Q2 2025, and the operating margin decline due to FX.

In summary, Medtronic's net profit decline in Q4 2024 is largely a result of higher costs and foreign currency challenges.