Intuitive Surgical's stock falls on earnings miss

Intuitive Surgical Inc.'s (ISRG) stock tumbled 6% in extended trading Thursday after the health care giant reported quarterly earnings that came up short of analysts' estimates. Intuitive Surgical reported fiscal second-quarter net income of $426 million, or $1.18 a share, compared with net income of $307.8 million, or 85 cents a share, in the year-ago quarter. Adjusted earnings were $1.20 a share. Revenue jumped to $1.76 billion, from $1.5 billion a year ago. Analysts surveyed by FactSet had expected on average net income of $1.33 a share on revenue of $1.74 billion. Shares of Intuitive Surgical have climbed 31% so far this year, while the broader S&P 500 index has increased 18%.

-Jon Swartz

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07-20-23 1630ET

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