Intuitive Surgical Q3 earnings beat street, income up nearly 25%

Intuitive Surgical (NSDQ:ISRG) today released its 3rd quarter earnings, beating the street on revenue and earnings per share and growing sales nearly 25% compared to last year.

“We are pleased with our 3rd quarter procedure growth and financial results. We believe our customers benefit from a large community of users and our technology ecosystem,” CEO Dr. Gary Guthart said in prepared remarks.

Intuitive Surgical reported profits of $167.3 million, or $4.49 per share, on sales of $589.7 million for the 3 months ended September 30.

That amounts to a 24.4% bottom line gain on mild sales growth of 0.6% compared with the same period in 2014.

Adjusted to exclude 1-time items, earnings per share were $4.40, up 23.6% from the same quarter last year.

Intuitive Surgical topped expectations on the street, beating revenue estimations of $580.4 million by $9.3 million and topping earnings per share expectations of $4.23 by 17¢.

The news has sent Intuitive shares up approximately 7.8% to $510.00 in after hours trading as of 5:09 p.m. EDT.

In August, Intuitive Surgical said it awarded simulator grants, including da Vinci surgical system surgeon consoles and skills simulators, to 5 U.S. medical centers for researching robotic-assisted surgery training.

The awards went to the University of Rochester Medical Center, University of Virginia School of Medicine, University of Nevada School of Medicine, University of Maryland School of Medicine and University of Miami, Sylvester Comprehensive Cancer Center, Intuitive Surgical said.

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