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ResMed (ASX:RMD) shares have climbed 7 per cent following a strong performance as revealed in the company’s Third Quarter FY2024 results.
ResMed is a global leader in digital health technologies and cloud-connected medical devices, which focus on improving care for individuals with sleep apnea, COPD and other chronic diseases.
The company’s broad global presence across multiple markets played a key role in helping to drive the quarter’s performance.
“Over 2 billion people worldwide can benefit from a ResMed solution to help them sleep better, breathe better, and receive best-in-class healthcare right where they live. We remain laser-focused on bringing market-leading innovation to customers.” ResMed’s Chairman & CEO Mick Farrell said.
Revenue for the quarter increased by 7% to $1.2 billion, driven by a strong demand for the company’s sleep device and mask products. Notable growth come from the US, Canada, and Latin America (9% increase) and in Europe, Asia, and other markets (3% increase) on a constant currency basis.
Other key results included, income from operations increased by 25%, and non-GAAP income from operations increased by 23%. ResMed also reported strong operating cash flow of $402 million for the quarter.
Overall, ResMed’s performance has shown its leadership in digital health technology and its ability to meet the growing healthcare needs of a global population.
RMD last traded at $30.49.
