Intuitive Surgical Inc. on Tuesday said its second-quarter profit jumped 66 percent as sales of its surgical robotics soared. The results came in ahead of Wall Street expectations, and shares rose in aftermarket trading.
For the three months ended June 30, the company reported net income of $51.2 million, or $1.28 per share, compared with $30.7 million, or 79 cents per share, in the corresponding period a year earlier.
Revenue climbed 56 percent, to $219.2 million from $140.2 million.
Analysts polled by Thomson Financial, on average, expected profit of $1.18 per share on revenue of $208.6 million.
Intuitive Surgical said its revenue growth was driven by wider adoption of robotic procedures, and higher sales of both instruments and accessories and its da Vinci Surgical System. Product sales rose 58 percent to $189.8 million, while service and training revenue jumped 44 percent to $29.4 million.
Intuitive shares gained $27.45, or 9.8 percent, to $307.68 in aftermarket electronic trading. They earlier slipped $4.48 to end regular trading at $280.23. The stock has traded in a 52-week range of $185.10 to $359.59.
Terms & Conditions
RSS Headlines
Fool UK