ISRG Earnings: Intuitive Surgical reports higher Q1 revenue and profit

Medical device company Intuitive Surgical, Inc. (NASDAQ: ISRG) announced operating results for the first quarter of 2024, reporting higher revenues and adjusted profit.

First-quarter net profit, excluding one-off items, increased to $1.50 per share from $1.23 per share last year. Unadjusted net income was $547.4 million or $1.51 per share in Q1, compared to $360.8 million or $1.00 per share in the same period of the prior year.

The company reported net revenues of $1.89 billion for the March quarter, which is up 11% from the year-ago period. Worldwide da Vinci procedures grew approximately 16% compared with the first quarter of 2023.

“The core measures of our business remained healthy this quarter, as we reached meaningful milestones across several parts of our business. We are pleased by feedback from our measured da Vinci 5 launch as well as the continued adoption of SP and Ion, and we remain focused on delivering the goals we share with our customers, including improving patient outcomes,” said Gary Guthart, Intuitive’s CEO.

Prior Performance