2253 GMT - ResMed's solid 2Q update looks likely to be viewed positively by the market, RBC analyst Craig Wong-Pan reckons. He points out in a note to clients that, while the breathing-tech provider's gross margin was a touch softer than the market had been looking for, it did not go backward compared with the prior three months. Revenue was slightly stronger than both the average analyst forecast and Wong-Pan's expectation, while net income was more than 4% ahead of the analyst average forecast. Device revenues were also ahead of expectations in both the Americas and rest-of-the-world, he adds. RBC has a last-published sector-perform rating on ResMed's U.S.-listed stock. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 30, 2025 17:53 ET (22:53 GMT)
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