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Intuitive Surgical Earnings: ISRG Stock Soars 4% After Blowing Past Q3 Estimates

Intuitive Surgical (NASDAQ:ISRG) earnings for the clinical robotics company’s third quarter of 2019 has ISRG stock taking off in after-hours trading Thursday. This comes from its stellar diluted per-share earnings of $3.43 and revenue of $1.13 billion. These both soar above Wall Street’s diluted earnings per share and revenue estimates of $2.99 and $1.06 billion.

Intuitive Surgical Earnings: ISRG Stock Soars 4% After Blowing Past Q3 Estimates
Source: michelmond / Shutterstock.com

Let’s look at the details behind the successful Intuitive Surgical earnings report.

  • Diluted EPS for the quarter is up 21.20% from $2.83 in the third quarter of 2018.
  • Revenue is sitting 22.69% higher than $921.00 million from the same time last year.
  • Operating income of $365.70 million is 16.73% better YoY compared to $313.30 million.
  • The Intuitive Surgical earnings report also includes net income of $398.70 million.
  • That’s 36.65% better than the $291.80 million reported in the same period of the year prior.

Gary Guthart, CEO of ISRG, says this about the most recent Intuitive Surgical earnings report.

“We are pleased with performance in the quarter, reflected in our support of customers in procedures performed and system placements. Intuitive is committed to enabling care givers in their pursuit of better outcomes while lowering their total cost of treatment.”

Intuitive Surgical also points out that it acquired Schölly Fiberoptic’s robotic endoscope business during August 2019. The company says it expects this to enhance its supply chain and improve manufacturing capacity for imaging products.

ISRG stock was up 3.94% after hours on Thursday. The stock closed out the day down slightly. It is also up 13.78% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/10/intuitive-surgical-earnings-send-isrg-stock-soaring/.

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