Intuitive Surgical (ISRG) Tops Q2 EPS by 26c

• Intuitive Surgical (NASDAQ: ISRG) reported Q2 EPS of $2.76, $0.26 better than the analyst estimate of $2.50. Revenue for the quarter came in at $909 million versus the consensus estimate of $877.56 million.
• Worldwide da Vinci procedures grew approximately 18% compared with the second quarter of 2017, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures.
• The Company shipped 220 da Vinci Surgical Systems compared with 166 in the second quarter of 2017.
• Second quarter 2018 revenue of $909 million grew approximately 20% compared with $759 million for the second quarter of 2017.
• Second quarter 2018 GAAP net income was $255 million, or $2.15 per diluted share, compared with $223 million, or $1.94 per diluted share, for the second quarter of 2017.
• Second quarter 2018 non-GAAP* net income was $327 million, or $2.76 per diluted share, compared with $230 million, or $2.00 per diluted share, for the second quarter of 2017.
• The Company received U.S. Food and Drug Administration clearance for the Vessel Sealer Extend, the da Vinci SP Surgical System for use in certain urology procedures, and the SureForm 60, a single-patient use 60mm stapler, in April 2018, May 2018, and July 2018, respectively.

For earnings history and earnings-related data on Intuitive Surgical (ISRG) click here.

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