{"id":44901,"date":"2023-08-05T15:29:09","date_gmt":"2023-08-05T19:29:09","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/resmed-shares-sink-17-after-profit-revenue-miss-estimates\/"},"modified":"2023-08-05T15:29:11","modified_gmt":"2023-08-05T19:29:11","slug":"resmed-shares-sink-17-after-profit-revenue-miss-estimates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44901","title":{"rendered":"ResMed Shares Sink 17% After Profit, Revenue Miss Estimates"},"content":{"rendered":"
\n

By Ben Glickman<\/p>\n

Shares of ResMed sank Friday after the company profit and revenue missed estimates in the fiscal fourth quarter.<\/p>\n

The stock was down 17% to $181.71 in morning trading, on pace for its largest percentage point fall since January 2019. Shares have shed 12% so far this year.<\/p>\n

\n

The San Diego-based medical device company reported a fiscal fourth quarter profit of $229.7 million, or $1.56 a share, compared with $195.1 million, or $1.33 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.60.<\/p>\n

The company’s revenue rose 23% to $1.12 billion, missing the $1.14 billion forecast by analysts, according to FactSet.<\/p>\n

The company’s margins tightened in the quarter because of unfavorable product mix and higher component and manufacturing costs.<\/p>\n

<\/pre>\n
Write to Ben Glickman at ben.glickman@wsj.com<\/p>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Ben Glickman Shares of ResMed sank Friday after the company profit and revenue missed estimates in the fiscal fourth quarter. The stock was down 17% to $181.71 in morning trading, on pace for its largest percentage point fall since January 2019. Shares have shed 12% so far this year. The San Diego-based medical device […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-44901","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nResMed Shares Sink 17% After Profit, Revenue Miss Estimates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Ben Glickman Shares of ResMed sank Friday after the company profit and revenue missed estimates in the fiscal fourth quarter. 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