SUNNYVALE, Calif. – Intuitive Surgical, Inc. (NASDAQ: ), a leader in robotic-assisted surgery, reported strong second-quarter results, with adjusted earnings per share (EPS) and revenue exceeding analysts’ expectations.
The company’s stock rose 6.6% following the announcement, indicating a positive market response to the earnings beat.
Intuitive Surgical reported adjusted earnings per share of $1.78 for the quarter ended June 30, 2024, beating analysts’ estimates of $1.54 by $0.24. Revenue for the quarter was also strong at $2.01 billion, beating the consensus estimate of $1.97 billion, and up 14% from $1.76 billion in the same quarter last year.
The company’s financial health was underscored by a 17% growth in global da Vinci procedures versus Q2 2023, which contributed to the increase in revenue. Intuitive also expanded its installed da Vinci Surgical System base by 14%, to 9,203 systems. The second quarter saw 341 da Vinci Surgical Systems installed, including 70 new da Vinci 5 Systems.
The company’s non-accounting income from operations also saw a big jump to $754 million from $618 million in 2023.
“Our business was strong this quarter, and we are pleased with the response to da Vinci 5 as well as the continued adoption of SP and Ion,” said Gary Guthart, CEO of Intuitive. “We remain focused on achieving the goals we share with our customers, with an emphasis on improving patient outcomes.”
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