Intuitive Surgical 1Q Profit Rises on More Procedures, Installed Systems
By Ben Glickman
Intuitive Surgical posted a higher profit in the first quarter as the company's growth in procedures and its installed robotic surgery systems continued.
The Sunnyvale, Calif.-based company reported a profit of $544.9 million, or $1.51 a share, in the quarter ended March 31, compared with $355.3 million, or $1 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.23.
Stripping out certain one-time items, adjusted per-share earnings came to $1.50, ahead of the $1.42 forecast by analysts, according to FactSet.
Revenue rose 11% to $1.89 billion, beating the $1.87 billion expected by analysts polled by FactSet.
Intuitive Surgical said procedures with its da Vinci robotic systems were up 16% compared to the year ago quarter, while the company's installed base was up 14% from a year earlier.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
April 18, 2024 16:34 ET (20:34 GMT)
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