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Intuitive Surgical Q2 Earnings Beat Estimates with 14% Revenue Growth, Stock Up 7%

Jul 18, 2024, 08:13 PM

Intuitive Surgical Inc. (ISRG) reported strong second quarter 2024 earnings, surpassing analyst expectations. The company posted an EPS of $1.78, exceeding the estimated $1.54, and revenue of $2.01 billion, surpassing the forecasted $1.97 billion. This represents a 14% increase from the $1.76 billion revenue in the same quarter of 2023. The GAAP net income was $527 million, or $1.46 per diluted share, compared to $421 million in the previous year. Non-GAAP net income stood at $641 million. The company placed 341 da Vinci surgical systems, including 70 da Vinci 5 systems, increasing its installed base to over 9,000 units. Worldwide da Vinci procedures grew approximately 17% year-over-year. Following the earnings report, Intuitive Surgical's stock rose by 7% in after-hours trading. The company's market cap stands at $148.08 billion.