Vishnupriya
Bengaluru: Intuitive Surgical beat Wall Street estimates for fourth-quarter profit on Thursday, driven by strong demand for its surgical robots used in minimally invasive procedures.
The medical device maker reported an adjusted profit of $2.21 per share, beating analysts’ estimates of $1.79, according to data compiled by LSEG.
Companies producing medical devices for surgical procedures have benefited from a surge in demand in the United States, especially from older citizens, who deferred non-urgent procedures during the pandemic.
Intuitive’s da Vinci surgical robots are widely used for a range of procedures, including weight-loss surgeries and treatments for digestive, bladder and heart conditions.
The volume of global da Vinci procedures rose about 18per cent from a year ago in the reported quarter, the company said.
Intuitive now expects worldwide da Vinci-assisted procedures to increase about 13per cent to 16per cent in 2025 compared to 2024.
The Sunnyvale, California-based company reported revenue of $2.41 billion for the fourth quarter, compared to analysts’ estimates of $2.25 billion.
Shares of the company fell 2.2per cent to $595.07 in extended trading. (Reporting by Mariam Sunny in Bengaluru; Editing by Mohammed Safi Shamsi)
