Zacks Investment Research | Oct 17, 2019 09:11PM ET
Intuitive Surgical, Inc. (NASDAQ:ISRG) reported adjusted earnings per share (EPS) of $3.43 in the third quarter of 2019, beating the Zacks Consensus Estimate of $2.96. Adjusted EPS improved 21.2% year over year.
The Zacks Rank #3 (Hold) company recorded revenues of $1.13 billion which improved 22.5% from the prior-year quarter. The figure also outpaced the Zacks Consensus Estimate of $1.06 billion.
Segment Details
Instruments & Accessories
Revenues at the segment came in at $606.2 million, reflecting a year-over-year increase of 24.7% on 20% growth in da Vinci procedure volumes.
Systems
In the reported quarter, System revenues increased 23.3% year over year to $338.6 million. Notably, the company shipped 275 da Vinci Surgical Systems in the quarter.
Services
Services revenues came in at $183.4 million, up 14.6% from the year-ago quarter.
International Sales Up
Outside the United States, revenues totaled $332 million, up 36% on a year-over-year basis. The improvement can be attributed to higher instruments and accessory revenues, driven by procedure growth and customer buying patterns.
Outside the United States, Intuitive Surgical placed 80 systems in the third quarter compared with 90 in the third quarter of 2018. Of these, 36 were in Europe, 27 in Japan, and 10 in China.
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