Intuitive Surgical Beats Wall Street Forecasts for 4Q

Date : 01/23/2020 @ 9:48PM
Source : Dow Jones News
Stock : Intuitive Surgical Inc (ISRG)
Quote : 501.73  -2.49 (-0.49%) @ 2:30PM

Intuitive Surgical Beats Wall Street Forecasts for 4Q

Intuitive Surgical (NASDAQ:ISRG)
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3 Months : From Dec 2019 to Mar 2020

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   By Micah Maidenberg 
 

Intuitive Surgical Inc. (ISRG) reported stronger shipments for its main surgery product in the fourth quarter, a performance that helped the company beat profit and revenue expectations.

The maker of the da Vinci Surgical System reported a profit of $357.7 million, or $2.99 a share, up from $292.5 million, or $2.45 a share, in the fourth quarter of 2018.

Intuitive's adjusted profit of $3.48 a share was 10 cents higher than what analysts polled by FactSet predicted for that metric.

Revenue increased 22% from the year earlier to $1.28 billion, more than the $1.23 billion analysts had forecast.

The company shipped 336 da Vinci systems in the quarter, up 16% compared to the fourth quarter of 2018. The install base of those devices stood at 5,582 at the end of last year, compared with 4,986 as of the end of 2018.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

January 23, 2020 16:33 ET (21:33 GMT)

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

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