Intuitive Surgical 1Q Profit Rises on More Procedures, Installed Systems
By Ben Glickman
Intuitive Surgical posted a higher profit in the first quarter as the company's growth in procedures and its installed robotic surgery systems continued.
The Sunnyvale, Calif.-based company reported a profit of $544.9 million, or $1.51 a share, in the quarter ended March 31, compared with $355.3 million, or $1 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.23.
Stripping out certain one-time items, adjusted per-share earnings came to $1.50, ahead of the $1.42 forecast by analysts, according to FactSet.
Revenue rose 11% to $1.89 billion, beating the $1.87 billion expected by analysts polled by FactSet.
Intuitive Surgical said procedures with its da Vinci robotic systems were up 16% compared to the year ago quarter, while the company's installed base was up 14% from a year earlier.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
April 18, 2024 16:34 ET (20:34 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations