Intuitive Surgical Inc. (NASDAQ: ISRG) reported lower earnings and revenues for the third quarter of 2020, hurt by the coronavirus-related disruption. However, the results topped the Street view.
The top-line dropped 4% annually to $1.08 billion during the three-month period, despite an increase in the flagship da Vinci procedures. At $2.77 per share, adjusted earnings were down 19% year-over-year.
Net income declined to $314 million or $2.60 per share from $397 million or $3.33 per share in the third quarter of 2019. During the quarter, operations were disrupted by the pandemic and procedure volumes remained below the normal levels.
Shares of Intuitive Surgical closed Thursday’s regular session lower. The stock has gained 27% since the beginning of the year.
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