A world-leading digital health company ResMed Inc (ASX:RMD, NYSE:RMD) announced results for its quarter ended 30 September 2020. The highlights are-
- Revenue rose by 10% to $751.9 million, up by 9% on a cc basis.
- Net operating profit during the period increased by 27% and non-GAAP operating profit up 24%.
- The Company stated revenue in the US, Canada, and Latin America increased by 9% (excluding Software as a Service).
This surge is driven by strong sales across the mask product portfolio and increased demand for ventilators of ResMed due to COVID-19.
On 30 October 2020, the shares of RMD were trading at A$27.94 up by 9.525% at AEDT 12:45 PM.