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ResMed: Fiscal 1Q Earnings Snapshot

·1 min read

SAN DIEGO (AP) _ ResMed Inc. (RMD) on Thursday reported fiscal first-quarter net income of $178.4 million.

On a per-share basis, the San Diego-based company said it had net income of $1.22. Earnings, adjusted for amortization costs, came to $1.27 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The maker of medical products for respiratory disorders posted revenue of $751.9 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $702.4 million.

ResMed shares have climbed 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $179.51, a climb of 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMD at https://www.zacks.com/ap/RMD