A health care company, ResMed Inc (ASX:RMD) updated the market with its results for third quarter of the financial year 2020 (ended 31 March 2020). The quick highlights are-
- The revenue for 3rd quarter climbed by 16% to $769.5 million;
- ResMed revealed GAAP gross margin of 58.4% and non-GAAP gross margin of 60.0% which has expanded 70 bps;
- The net operating profit of RMD for 3rd quarter surged by 39% and non-GAAP operating profit by 31%.
Moreover, the Company is cautious and thoughtful about the outlook for its business as RMD remain to serve its consumers and successfully withstand the COVID-19 crisis. Post announcement the share price of RMD climbed by 5% to $24.665 on 1 May 2020 (at AEST 12:16 PM).
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