Intuitive Surgical 4Q Revenue Rises on Procedure Growth
By Ben Glickman
Intuitive Surgical's revenue rose in the fourth quarter as it completed more procedures with its robotic-assisted surgery systems.
The Sunnyvale, Calif.-based company posted a profit of $606.2 million, or $1.69 a share, in the quarter ended Dec. 31, compared with $324.9 million, or 91 cents a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.30.
Stripping out certain one-time items, adjusted per-share earnings came to $1.60, ahead of the $1.48 forecast by analysts, according to FactSet.
Revenue rose 17% to $1.93 billion, beating the $1.89 billion expected by analysts polled by FactSet.
Intuitive Surgical's instruments and accessories revenue increased 22% in the period on the back of 21% growth in procedure volume from its da Vinci systems and a pricing benefit.
The company's installed base increased 14% from a year earlier.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
January 23, 2024 16:37 ET (21:37 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth