July 31 (Reuters) - Resmed ( RMD ) beat Wall Street
estimates for fourth-quarter profit on Thursday, driven by
strong demand for its devices used to manage sleep apnea.
The company makes continuous positive airway pressure (CPAP)
machines, a non-invasive treatment of sleep apnea, a common
disorder in which patients have brief interruptions of breathing
during sleep.
Resmed's ( RMD ) fourth-quarter revenue rose 10% to $1.35 billion,
beating analysts' estimates of $1.33 billion, according to data
compiled by LSEG.
The company posted adjusted profit of $2.55 per share for
the quarter ended June 30, compared to estimates of $2.48 per
share.
Some analysts had expected the U.S. approval of Eli Lilly's ( LLY )
blockbuster drug Zepbound to treat sleep apnea would
reduce demand for the company's devices.
Resmed ( RMD ) has shrugged off those concerns, saying it expects
consumer wearables tracking sleep health and GLP-1 therapies
such as Zepbound will encourage more patients to use its
devices.