Intuitive Surgical Q2 Earnings: Revenue Beat, EPS Beat, Da Vinci Procedures Jump 17% — 'Pleased By Feedback On Da Vinci 5'

Intuitive Surgical Inc ISRG reported financial results for the second quarter after the market close on Thursday. Here’s a rundown of the report.

Q2 Earnings: Intuitive Surgical reported second-quarter revenue of $2.01 billion, beating the consensus estimate of $1.97 billion. The robotic-assisted surgery company reported quarterly adjusted earnings of $1.78 per share, beating analyst estimates of $1.54 per share.

Intuitive Surgical has now exceeded analyst estimates on the top and bottom lines in five of the last six quarters, according to Benzinga Pro.

Total revenue was up 14% on a year-over-year basis. Worldwide da Vinci procedures increased approximately 17% year-over-year. The company said it placed 341 da Vinci surgical systems in the quarter, versus 331 in the prior year's quarter. 70 of the systems placed during the quarter were Intuitive's da Vinci 5 systems.

Intuitive Surgical's da Vinci surgical system installed base totaled 9,203 systems as of June 30, up 14% on a year-over-year basis.

“Our business was healthy this quarter, and we are pleased by feedback on da Vinci 5 as well as the continued adoption of SP and Ion,” said Gary Guthart, CEO of Intuitive Surgical. “We remain focused on delivering the goals we share with our customers, centered on improving patient outcomes.”

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Intuitive Surgical ended the quarter with $7.68 billion in cash, equivalents and investments, up $360 million during the second quarter. Management will hold a conference call to discuss these results at 4:30 p.m. ET.

ISRG Price Action: Intuitive Surgical shares were up 6.70% after hours at $444 at the time of publication, according to Benzinga Pro.

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Photo: Courtesy of Intuitive Surgical.