ResMed (NYSE: RMD) + shares ticked up today on second-quarter results that came in ahead of the consensus forecast.

Shares of RMD increased by 6.6% to $183.16 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose by 1%.

The San Diego-based sleep respiratory device maker posted profits of $208.8 million in the quarter. That equals $1.42 per share on sales of $1.16 billion for the three months ended Dec. 31, 2023. ResMed recorded a 7.2% bottom-line slide despite sales growth of 12.5%.

Adjusted to exclude one-time items, earnings per share totaled $1.88. That landed 8¢ ahead of expectations on Wall Street. Sales narrowly topped projections of $1.15 in revenue.

ResMed cited increased demand for sleep devices and strong growth across its mask product portfolio as growth drivers. However, it noted a margin offset due to costs related to a Class I mask recall.

“Our second-quarter fiscal year 2024 results reflect strong double-digit growth across our combined device, masks and accessories, and residential care software businesses, as well as cost discipline to support an acceleration in profitability,” said Mick Farrell, ResMed’s CEO. “We continue to expand the production and delivery of our market-leading flow generator platforms, and we are successfully launching our latest generation platform, AirSense 11, into new markets and geographies around the world.

“As we look ahead, ResMed is well-positioned to lean into leading the expansion and growth of sleep health and breathing health. We are the clear leader in a very large and growing market; I’m excited about ResMed’s future as we focus on delivering for our stakeholders through product innovation, operational excellence, and increasing brand awareness as we progress towards our goal of improving 250 million lives in 2025.”

ResMed did not provide guidance for the remainder of 2024.