ResMed (ASX:RMD) first quarter FY22 results.
Revenue: growth of 20% to US$904m
Operating profit: increase of 21% to US$261.9m
Gross Margin of 56%; non-GAAP gross margin contracted 270 bps to 57.2%
Diluted EPS: up 14% to US$1.39/share
ResMed CEO Mick Farrell said ?Our first-quarter results demonstrate strong performance across our business with double-digit growth in both top-line and bottom-line metrics, driven by ongoing high demand for our sleep and respiratory care products, and steady growth across our software-as-a-service business?.
ResMed shares rose 7% to $38.41/share following the release of Q1 results.