Intuitive Surgical shares up on Street-beating Q1

Shares in Intuitive Surgical (NSDQ:ISRG) have risen in after-hours trading today after the robotic surgery giant posted first quarter 2018 earnings that beat expectations on Wall Street.

The Sunnyvale, Calif.-based company posted profits of $287.3 million, or $2.44 per share, on sales of $847.5 million for the three months ended March 31, seeing the bottom line grow 58.9% while sales grew 24.7% compared with the same period last year.

After adjusting for one-time items, earnings per share were still at $2.44, well ahead of the the $2.09 consensus on The Street, where analysts were looking for sales of $783.3 million.

Intuitive Surgical said that worldwide da Vinci procedures grew 15% compared with its first quarter of 2017, with 185 da Vinci units shipped this quarter compared to 133 in the first quarter of 2017.

“We are pleased with our customers’ continued adoption of Intuitive’s products into their minimally invasive surgery programs. We remain deeply focused on meeting their clinical, workflow, and economic needs,” CEO Gary Guthart said in a prepared statement.

Shares in Intuitive have gained 5.6% in after-hours trading, at $459.90 as of 4:56 p.m. EDT.

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