Resmed shares jump as Q2 revenue surges

ResMed 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.

AAP

23 January 2018

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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