Intuitive Surgical 4Q Revenue Rises on Procedure Growth

Dow Jones01-24

Intuitive Surgical's revenue rose in the fourth quarter as it completed more procedures with its robotic-assisted surgery systems.

Intuitive Surgical's shares jumped over 5% on the news.

The Sunnyvale, Calif.-based company posted a profit of $606.2 million, or $1.69 a share, in the quarter ended Dec. 31, compared with $324.9 million, or 91 cents a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.30.

Stripping out certain one-time items, adjusted per-share earnings came to $1.60, ahead of the $1.48 forecast by analysts, according to FactSet.

Revenue rose 17% to $1.93 billion, beating the $1.89 billion expected by analysts polled by FactSet.

Intuitive Surgical's instruments and accessories revenue increased 22% in the period on the back of 21% growth in procedure volume from its da Vinci systems and a pricing benefit.

The company's installed base increased 14% from a year earlier.

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