By Kimberly Chin

 

Intuitive Surgical Inc. posted higher first-quarter profit as revenue rose 13% driven by an increase in procedures and system placements, as well as higher service and operating-lease revenue.

The maker of the da Vinci Surgical System reported a profit of $313.5 million, or $2.62 a share, up from $306.5 million, or $2.56 a share, in the comparable quarter a year earlier.

Intuitive's adjusted profit was $2.69 a share, up from $2.61 a year ago. Analysts polled by FactSet predicted adjusted earnings of $2.64 a share.

Revenue rose to $1.1 billion from $973.7 million a year ago. Analysts had forecast revenue of $1.05 billion.

The company shipped 237 da Vinci systems in the quarter, up about 1% from a year ago. The installed base of those devices stood at 5,669 systems as of March 31, up roughly 11% from the comparable quarter a year ago.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

April 16, 2020 16:42 ET (20:42 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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