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ResMed: Fiscal 2Q Earnings Snapshot

SAN DIEGO (AP) _ ResMed Inc. (RMD) on Thursday reported fiscal second-quarter net income of $160.6 million.

On a per-share basis, the San Diego-based company said it had profit of $1.10. Earnings, adjusted for non-recurring costs, were $1.21 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The maker of medical products for respiratory disorders posted revenue of $736.2 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $725.4 million.

ResMed shares have climbed almost 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $165.44, a climb of 76% in the last 12 months.


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