Intuitive Surgical Clocks Mixed Q3 Earnings, Stock Falls After-Hours

Intuitive Surgical, Inc. ISRG shares are trading lower in Thursday's after-hours session on the heels of the company's third-quarter results.

What To Know: Intuitive Surgical reported quarterly earnings of $1.46 per share, which beat the analyst consensus estimate of $1.41, a 22.69% increase over earnings of $1.19 per share from last year. 

The company reported quarterly sales of $1.74 billion, which missed the analyst consensus estimate of $1.77 billion, an 11.95% increase over sales of $1.56 billion from the same period last year.

The company also placed 312 da Vinci surgical systems, compared with 305 in the same period in 2022.

The company ended the third quarter with $7.52 billion in cash and equivalents, an increase of $389 million compared to last quarter, primarily driven by cash generated from operations, partially offset by capital expenditures.

"We are pleased by our customers' continued adoption of da Vinci surgery and their acceptance and use of our Ion and SP platforms," said Gary Guthart, Intuitive CEO. 

"We continue to focus on supporting their needs through the pursuit of expanded indications, delivering excellence in quality and supply, and increasing our productivity."

Related Link: Universal Music Sues AI Startup Anthropic Over Copyright Infringement

ISRG Price Action: Shares of ISRG were down 7.11% at $254.00 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Sasin Tipchai from Pixabay