Intuitive Surgical Shows Massive Earnings Beat

One of Wall Street’s battleground stocks released second quarter results Tuesday, rocking shares upward.

Intuitive Surgical ISRG announced earnings 29.5 percent higher than the analyst consensus at $3.73 per share versus $2.88 per share. However, this is a 4.4 percent year over year drop.

Revenue, on the other hand, missed the analyst consensus by 0.8 percent. The drop in revenue from 2013 was led by systems sales, which fell 33.4 percent.

Related Link: iPad Slump Leads To A Difficult Q3 For Apple

Intuitive Surgical made several disclosures during the conference call about the state of its business. These include capital pressure continuing on hospitals and capital margins remaining below previous year levels. In addition, the company does not expect any buybacks during the third quarter.

Looking forward, the company disclosed that it expects full-year procedure growth in the range of five to eight percent, but did not give a full revenue forecast.

Shares of Intuitive Surgical were last trading at $436.80, up 11.3 percent from Tuesday’s close.