Quarterly Results Spotlight: ResMed (ASX:RMD)

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.