Intuitive Surgical strong Q1 results benefit from backlog, lack of COVID

seekingalpha04-19

Intuitive Surgical's (NASDAQ:ISRG) Q1 beats on the top and bottom lines were the result of COVID not having an impact on procedure volume and addressing a backlog of procedures, an issue created by ...

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Net income of $547.4M in the quarter compared to $360.8M in Q1 2023.  \"During the first quarter of 2023, in January, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in China...\" Intuitive surgical said in a news release. \"Additionally, we believe that the high patient treatment backlogs that developed during the COVID-19 pandemic contributed positively to the 2023 procedure volumes, as those patients returned for diagnosis and treatment.\" Revenue of ~$1.9B in Q1 was an ~11% rise from the year-ago period. Globally, da Vinci procedures grew ~16% compared with Q1 2023. Intuitive Surgical  shares are up 1% in post-market trading Thursday.   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Net income of $547.4M in the quarter compared to $360.8M in Q1 2023.  \"During the first quarter of 2023, in January, the Company saw COVID-19 resurgences impact da Vinci procedure volumes in China...\" Intuitive surgical said in a news release. \"Additionally, we believe that the high patient treatment backlogs that developed during the COVID-19 pandemic contributed positively to the 2023 procedure volumes, as those patients returned for diagnosis and treatment.\" Revenue of ~$1.9B in Q1 was an ~11% rise from the year-ago period. Globally, da Vinci procedures grew ~16% compared with Q1 2023. Intuitive Surgical (ISRG) shares are up 1% in post-market trading Thursday.   More on Intuitive Surgical  Intuitive Surgical Readies For Robotic Resurgence In Upcoming Earnings Intuitive Surgical: Growth And Margins Will Be Challenged In 2024 Intuitive Surgical: Great Company, But Looking Overpriced Intuitive Surgical Q1 Earnings Preview: Rising robotic surgery demand could amp up sales Intuitive gets FDA clearance for da Vinci 5 robotic system","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428454270"}