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Intuitive Surgical Shares Surge 7% After Strong Q3 Earnings, Revenue Hits $2.04B

Oct 17, 2024, 08:16 PM

Intuitive Surgical reported strong third-quarter earnings, leading to a 7% increase in its stock price after hours. The company achieved a revenue of $2.04 billion, a 17% increase from $1.74 billion in the same period last year, surpassing the forecast of $2.01 billion. GAAP net income attributable to Intuitive was $565 million, or $1.56 per diluted share, compared to $416 million, or $1.16 per diluted share, in the third quarter of 2023. Non-GAAP EPS was $1.84, surpassing the forecast of $1.64. The company also reported an 18% year-over-year growth in da Vinci procedures and increased its installed base of da Vinci surgical systems by 15%, reaching 9,539 systems as of September 30, 2024. Intuitive Surgical's CEO highlighted the healthy core measures of the business and customer adoption of the da Vinci 5 system. The company’s market cap stands at $168.12 billion.