Intuitive Surgical Shares Rose 2% Following Q1 Earnings Beat

Intuitive Surgical (NASDAQ: ISRG) shares rose 2% higher after-hours following the company’s first-quarter earnings results, with EPS of $1.13 coming in better than the Street estimate of $1.08. Revenue grew 15% year-over-year to $1.49 billion, compared to the Street estimate of $1.43 billion, driven by growth in da Vinci procedure volume and system placements.

Worldwide da Vinci procedures increased around 19% year-over-year, with 311 da Vinci Surgical Systems placed, representing an increase of 4% year-over-year.

"Customer demand for our products was healthy in the first quarter despite a challenging global environment," CEO Gary Guthart said. "We remain focused on meeting that demand with high quality products and services while advancing our innovation programs."

Shares of Intuitive Surgical are down 18% year-to-date.

By Davit Kirakosyan

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