Categories Earnings, Technology

Intuitive Surgical (ISRG) Q4 earnings, revenue beat on strength of da Vinci System

Intuitive Surgical, Inc. (NASDAQ: ISRG), a leading provider of robotic-assisted surgical systems, reported higher earnings and revenues for the fourth quarter of 2019, aided by continued growth in the sales of da Vinci Surgical System, its flagship product.

The results also surpassed the market’s prediction. However, the company’s stock dropped during Thursday’s after-hours session, soon after the announcement.

Intuitive Surgical (ISRG) Q4 earnings, revenue beat

Total revenue moved up 22% year-over-year to $1.28 billion, beating the consensus estimate. The top-line growth was driven by an increase in procedures and system placements. Instruments and accessories revenue increased by 24% to $671 million, helped by double-digit growth in da Vinci procedure volume.

At $416 million, systems revenue was up 22%. System shipments included 126 units shipped under operating lease and usage-based arrangements, compared to 84 last year.

Net income for the quarter was $358 million or $2.99 per share, compared to $293 million or $2.45 per share in the prior-year quarter. Earnings, adjusted for special items, rose to $3.48 per share from $2.96 per share in the fourth quarter of 2018. Analysts had forecast slower growth.

Related: Intuitive Surgical Inc Q3 2019 Earnings Call Transcript

During the quarter, worldwide da Vinci procedures grew nearly 19% versus last year, driven mainly by growth in US general surgery procedures and worldwide urologic procedures. Intuitive shipped 336 da Vinci Surgical Systems, which was up 16% from the prior-year period, and grew its da Vinci Surgical System installed base to 5,582 systems, reflecting a year-over-year increase of 12% from last year.

Shares of Intuitive Surgical climbed to an all-time high this week, continuing the uptrend seen since the beginning of the year. The stock gained 19% in the past twelve months. It closed Thursday’s regular session higher.

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top