Intuitive Surgical Posts Higher 1Q Profit on Sales Increase
April 16 2020 - 04:57PM
Dow Jones News
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)
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