ASX-listed shares of ResMed jump on strong quarterly results

ResMed

26/04/2024 01:51

** ASX-listed shares of ResMed  RMD.N   RMD.AX  advance as
much as 9.9% to A$31.58, set to see their best day since Oct 30,
2020 - if gains hold 
    ** Shares emerge as one of the top gainers in the benchmark 
    ** The medical device co beats Wall Street estimate for
quarterly profit due to robust demand for sleep apnea devices 
    ** Co reports adjusted profit of $2.13 per share for quarter
ended March 31, above market consensus of $1.94 per share,
according to Citi    
    ** Adds quarterly sales rose 7% to $1.2 billion
    ** RMD shares hit highest since Aug 3; set to rise for fifth
straight day 
    ** Stock has risen ~13% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))