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Resmed shares jump as Q2 revenue surges

AAP  |  23 Jan 2018Text size  Decrease  Increase  |  
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SYDNEY - [AAP] ResMed (ASX: RMD) shares have jumped more than eight per cent after the respiratory device maker lifted second-quarter sales revenue 13 per cent to $US601.3 million (A$750 million).

Chief executive Mick Farrell said the strong sales were boosted by demand for the company's new range of sleep apnoea masks, while device sales were also doing well.

Revenue in the Americas, excluding software business Brightree, was up 12 per cent at $US329.2 million, while Brightree was up 14 per cent at $US38.7 million.

ResMed reported revenue in Europe, Asia and other markets of $US233.4 million, an increase of eight per cent on a constant currency basis.

"Our masks have performed well around the world, device sales are solid, and our cloud-based software continues to grow rapidly," Mr Farrell said in a statement on Tuesday.

He said innovation was driving the company's success, with a recently announced portable oxygen concentrator which will be launched in the third quarter.

The dual-listed company's ASX-traded shares jumped on the update and were 95 cents, or 8.6 per cent, higher at $11.99 at 1048 AEDT.

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© 2021 Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

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