At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. The benchmark index is currently up 0.75% to 7,412.7 points.
Here’s what is happening on the ASX 200 today:
ResMed share price falls on quarterly update
The ResMed Inc (ASX: RMD) share price is sinking on Friday after the sleep treatment company’s quarterly update fell short of expectations. ResMed reported a 12% increase in revenue to US$864.5 million and a 2% lift in earnings per share to US$1.32. Goldman Sachs notes that the company’s revenue and earnings per share missed by 5% and 9%, respectively, versus consensus estimates.
PointsBet shares jump
The PointsBet Holdings Ltd (ASX: PBH) share price is racing higher today thanks to a rebound in the tech sector and a positive reaction to the sports betting company’s quarterly update. In respect to the latter, PointsBet reported a 54% increase in turnover to $1,398 million. This reflects a 37% increase in Australian turnover to $579.4 million and a 70% jump in US turnover to $818.6 million.
COVID weighs on Ramsay profits
The Ramsay Health Care Limited (ASX: RHC) share price is trading lower today after the hospital giant revealed that its profits have been hit by COVID restrictions. Ramsay reported third quarter revenue growth of 5.7% to $3,449.2 million but a 59% reduction in net profit to $42.7 million. The latter reflects COVID-related absenteeism, surgical restrictions, and higher operating costs.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Friday has been the PointsBet share price with a gain of 11%. This follows the release of the sports betting company’s quarterly update and a rebound in the tech sector. The worst performer has been the ResMed share price with a 5% decline after the sleep treatment company’s quarterly update missed expectations.