© Reuters. Intuitive Surgical (ISRG) stock gains on expected earnings beat, Da Vinci grew +21%
Intuitive Surgical (NASDAQ:) announced preliminary results for the fourth quarter, surpassing analysts’ expectations.
The company reported preliminary revenue of $1.93 billion, exceeding the consensus estimate of $1.87 billion.
Preliminary revenue from Instruments and accessories matched the estimate at $1.14 billion, while systems revenue exceeded expectations at $480 million compared to the estimated $420.7 million.
Intuitive Surgical also reported a robust worldwide procedure growth of approximately 21%, surpassing the estimated growth of 18.9%.
Following the release of these positive preliminary results, Intuitive Surgical stock rose by 3.8% in after-hours trading.
“During early 2023, COVID-19 resurgences in China continued to negatively impact our procedure volumes; however, as infections and hospitalization started to decrease, we saw a recovery of procedure volume,” the company said.
Intuitive Surgical is scheduled to report on January 23.
This story originally appeared on Investing
