Intuitive Surgical Q2 Profit Rises; Stock Up

(RTTNews) - Robotic-assisted surgery systems provider Intuitive Surgical Inc. (ISRG), Tuesday reported an increase in profit for the second quarter, as revenues jumped 14 percent on higher da Vinci Surgical System shipments. The surgical systems maker's earnings and revenues for the quarter trumped Wall Street estimates, sending its stock up about 12 percent in after-hours trade on the Nasdaq.

Sunnyvale, California-based Intuitive Surgical's second-quarter profit rose to $134.5 million or $3.56 per share from $104.0 million or $2.77 per share last year.

Second-quarter adjusted earnings improved to $172.8 million or $4.57 per share from $140.2 million or $3.73 per share last year. On average, 18 analysts polled by Thomson Reuters expected the company to report a profit of $3.98 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the second quarter rose about 14 percent to $586.1 million from $512.2 million a year ago. Analysts had a consensus revenue estimate of $566.86 million for the quarter.

Intuitive is the maker of da Vinci Surgical System, a surgical platform designed to enable complex surgery using a minimally invasive approach. The company shipped 118 da Vinci surgical systems in the quarter, up from 96 in the prior-year period.

Worldwide da Vinci procedures grew about 14 percent, fueled largely by growth in U.S. general surgery procedures and broad-based procedure growth in Asia and other international markets.

ISRG closed Tuesday's trading at $505.09, up $7.48 or 1.50%. The stock further gained $58.91 or 11.66% in after-hours trade.