Intuitive Surgical, Inc. (ISRG) Thursday reported an increase in first-quarter profit, as revenues grew, driven by continued growth of da Vinci surgery procedures and higher da Vinci Surgical System sales. Both earnings and revenues came in above analysts' expectations.
Net income for the quarter increased to $189 million or $4.56 per share from $144 million or $3.50 per share in the same period last year.
On average, 16 analysts polled by Thomson Reuters expected the company to earn $3.99 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $611 million, up 23 percent from $495 million last year. Analysts expected revenues of $582.80 million.
Systems revenues improved 24 percent to $256 million from $207 million last year. Service revenues totaled increased $94 million, up 17 percent from $81 million last year.
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