FMP
Intuitive Surgical’s Preliminary Results Beat Expectations
Jan 10, 2024 1:19 AM - Davit Kirakosyan
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Intuitive Surgical (NASDAQ:ISRG) revealed its preliminary results for the fourth quarter, which exceeded the expectations of analysts.
The company announced a preliminary revenue of $1.93 billion, surpassing the anticipated consensus of $1.87 billion. In detail, the revenue from Instruments and Accessories aligned with the forecast at $1.14 billion. However, the revenue from systems notably outperformed predictions, coming in at $480 million against the projected $420.7 million.
Additionally, Intuitive Surgical experienced a significant worldwide procedure growth of around 21%, higher than the expected 18.9%. The company also noted the impact of COVID-19 resurgences in China on their early 2023 procedure volumes. Despite initial challenges, there was a subsequent recovery in procedure volume as infection rates and hospitalizations began to decrease.
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