The ResMed earnings report for its fiscal second quarter of 2019 has RMD stock taking a dive on Friday.
ResMed (NYSE:RMD) reported revenue of $651.10 million for its fiscal second quarter of 2019. This is an increase over its revenue of $601.27 million for its fiscal second quarter of 2018. However, it was a real blow to RMD stock by missing Wall Street’s revenue estimate of $672.91 million for the period.
While ResMed notes that its revenue saw a strong 9% boost in the U.S., Canada and Latin America, it wasn’t as strong in other areas. This includes its Europe and Asia markets, where revenue only saw a combined growth of 1%.
The most recent ResMed earnings report also saw it bring in earnings per share of $1.00. This matches the company’s earnings per share from the same period of the year prior. It also has the company beating out analysts’ earnings per share estimate of 95 cents for the quarter, but that wasn’t enough to keep RMD stock from falling today.
ResMed earnings for its fiscal second quarter of the year also includes net income of $124.64 million. The medical equipment company reported net income of $9.53 million in its fiscal second quarter of the previous year.
Operating income reported in the ResMed earnings for its fiscal second quarter of 2019 was $157.08 million. This is up from the company’s operating income of $146.02 million reported during the same time last year.
RMD stock was down 17% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.