Intuitive Surgical, Inc. (NASDAQ:ISRG) dipped early Friday morning after it reported better-than-expected results for its first quarter.
Intuitive is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery.
The company, out of Sunnyvale, Calif., revealed its Worldwide da Vinci procedures grew approximately 10% compared with the first quarter of 2019, driven primarily by growth. ISRG shipped 237 da Vinci Surgical Systems, an increase of 1% compared with 235 in the first quarter of 2019.
Intuitive also said it grew its da Vinci Surgical System installed base to 5,669 systems as of March 31, 2020, an increase of 11% compared with 5,114 as of the end of the first quarter of 2019.
First-quarter 2020 revenue of $1,100 million grew 13% compared with $974 million in the first quarter of 2019. First-quarter 2020 GAAP net income was $314 million, or $2.62 per diluted share, compared with $307 million, or $2.56 per diluted share, in the first quarter of 2019.
First-quarter 2020 non-GAAP net income was $323 million, or $2.69 per diluted share, compared with $312 million, or $2.61 per diluted share, in the first quarter of 2019.
"In response to COVID-19, Intuitive's priorities are the health and safety of those we serve, including care teams, their patients, our employees, our communities, and our suppliers," said Intuitive CEO Gary Guthart.
"While we cannot predict the depth or duration of the disruption caused by the pandemic, we remain committed to our mission and the long-term need to improve patient outcomes."
ISRG stock sank $3.73 to $506.71.
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