Stocks of the Hour: ResMed, Newcrest Mining & PointsBet

Company News

by Lauren Evans

ResMed (ASX:RMD) increased its revenue by 12 per cent in the December quarter driven by high demand for its sleep and respiratory care products. However, the company's gross margin fell 2.3 per cent as it navigated higher supply chain costs. Shares are trading 0.03 per cent higher at $31.41.

Newcrest Mining (ASX:NCM) said its gold production climbed 10 per cent in the December quarter mainly driven by higher mill throughput rates. The gold miner said they are on track to deliver its financial year 2022 production guidance. Shares are trading 6.4 per cent lower at $21.50.

Pointsbet (ASX:PBH) reported an operating loss of $51.8 million in the December quarter, with revenue at $90.4 million. The sports betting business reported investing cash outflows of $43.6 million, as the company finished the quarter with net cash on hand of $569 million. Shares are trading 3.4 per cent lower at $4.86.

 

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