Masimo Corp. (MASI), a healthcare technology company, announced a rise in its preliminary second-quarter revenue on Tuesday, exceeding analysts' expectations.
For the second quarter, the company anticipates revenue of approximately $496 million, marking a 9 percent increase compared to the same period last year.
According to an average estimate from seven analysts surveyed by Thomson Reuters, revenue for the quarter was expected to be $493.56 million. Analysts' forecasts typically exclude special items.
Revenue from the Healthcare segment is projected to reach around $344 million, reflecting a 22 percent increase from the previous year.
Joe Kiani, CEO of Masimo, stated, "We are excited to see the growth and strength of our healthcare business in the second quarter, combined with a very strong order backlog as we enter the third quarter. Sensor utilization and hospital census have meaningfully improved from last year."
