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.
Read management/analysts’ comments on Intuitive Surgical’s Q3 results
Shares of Intuitive Surgical closed Thursday’s regular session lower. The stock has gained 27% since the beginning of the year.