Ann: ResMed Announces Results for the First Quarter of FY2024, page-27

SP dropped 4% on the ASX closing at $21.56 after such a strong results! Let us look at the results:

• Non-GAAP diluted earnings per share $1.64 per share is higher than analysts' mean forecast of $1.617 per share
• Net income for the quarter was $219.4 million and diluted earnings per share was $1.49. Non-GAAP net income increased by 9% to $241.2 million, and non-GAAP diluted earnings per share increased by 9% to $1.64, predominantly attributable to strong sales
• More interestingly the Software-as-a-Service revenue increased by 32 percent, reflecting incremental revenue from the acquisition of MEDIFOX DAN and continued organic growth in the SaaS portfolio
• Yes, gross margin contracted 250 basis points but it is still a very healthy margin 54.4% and explained as mainly due to costs associated with a field safety notification on Astral devices and higher component and manufacturing costs, partially offset by a favorable product mix and favorable foreign currency movements.

Despite the strong results, the sp retracted and management was forced to address the concern of the threat from the obessity wonder drugs - see After a 36% dive in the ResMed share price, the CEO quantifies Ozempic and GLP-1 impact (********.au).

It is strange the market could not see the strong increase in revenue/sales show the obessity wonder drugs did not stop RMD from gaining more customers.
Let us wait to see if investors on the NYSE are able to see through the noises the wonder drugs is going to eliminate obesse people and decimate the Sleep Apnea market.