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ResMed (RMD) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, ResMed (RMD - Free Report) reported revenue of $1.16 billion, up 12.5% over the same period last year. EPS came in at $1.88, compared to $1.66 in the year-ago quarter.
The reported revenue represents a surprise of +0.46% over the Zacks Consensus Estimate of $1.16 billion. With the consensus EPS estimate being $1.81, the EPS surprise was +3.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ResMed performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S., Canada, and Latin America- Devices: $371.30 million versus $369.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.5% change.
U.S., Canada, and Latin America- Masks: $298 million versus $306.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
Combined Europe, Asia, and other markets- Total Sleep and Respiratory Care: $348.50 million versus $336.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.
Combined Europe, Asia, and other markets- Devices: $234.70 million versus $222.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +19% change.
Combined Europe, Asia, and other markets- Masks: $113.90 million versus $118.99 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change.
U.S., Canada, and Latin America- Total: $669.30 million versus the four-analyst average estimate of $680.48 million.
Global revenue- Devices: $606 million versus $591.73 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.6% change.
Global revenue- Software as a Service: $144.90 million compared to the $146.22 million average estimate based on four analysts. The reported number represents a change of +24.1% year over year.
Global revenue- Total Sleep and Respiratory Care: $1.02 billion compared to the $1.02 billion average estimate based on four analysts. The reported number represents a change of +11% year over year.
Global revenue- Masks: $411.90 million versus the four-analyst average estimate of $425.12 million. The reported number represents a year-over-year change of +10.1%.
Shares of ResMed have returned +0.9% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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ResMed (RMD) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, ResMed (RMD - Free Report) reported revenue of $1.16 billion, up 12.5% over the same period last year. EPS came in at $1.88, compared to $1.66 in the year-ago quarter.
The reported revenue represents a surprise of +0.46% over the Zacks Consensus Estimate of $1.16 billion. With the consensus EPS estimate being $1.81, the EPS surprise was +3.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how ResMed performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- U.S., Canada, and Latin America- Devices: $371.30 million versus $369.47 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.5% change.
- U.S., Canada, and Latin America- Masks: $298 million versus $306.13 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
- Combined Europe, Asia, and other markets- Total Sleep and Respiratory Care: $348.50 million versus $336.01 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.
- Combined Europe, Asia, and other markets- Devices: $234.70 million versus $222.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +19% change.
- Combined Europe, Asia, and other markets- Masks: $113.90 million versus $118.99 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change.
- U.S., Canada, and Latin America- Total: $669.30 million versus the four-analyst average estimate of $680.48 million.
- Global revenue- Devices: $606 million versus $591.73 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.6% change.
- Global revenue- Software as a Service: $144.90 million compared to the $146.22 million average estimate based on four analysts. The reported number represents a change of +24.1% year over year.
- Global revenue- Total Sleep and Respiratory Care: $1.02 billion compared to the $1.02 billion average estimate based on four analysts. The reported number represents a change of +11% year over year.
- Global revenue- Masks: $411.90 million versus the four-analyst average estimate of $425.12 million. The reported number represents a year-over-year change of +10.1%.
View all Key Company Metrics for ResMed here>>>Shares of ResMed have returned +0.9% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.