Intuitive Surgical, Inc. (NASDAQ:ISRG) reported stronger-than-expected results for its third quarter on Thursday.
The company, based in Sunnyvale, Calif., reported third-quarter 2019 revenue of $1,128 million grew 23% compared with $921 million for the third quarter of 2018.
Third quarter 2019 GAAP net income was $397 million, or $3.33 per diluted share, compared with $293 million, or $2.45 per diluted share, for the third quarter of 2018. Third quarter 2019 GAAP net income includes $51 million, or $0.43 per diluted share, of income tax benefit related to the enactment of Swiss tax reform.
The company also says worldwide da Vinci procedures grew nearly 20% compared with the third quarter of 2018, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures.
ISRG shipped 275 da Vinci Surgical Systems, an increase of 19% compared with 231 in the third quarter of 2018.
The company grew its da Vinci Surgical System installed base to 5,406 systems as of September 30, 2019, an increase of 12% compared with 4,814 as of the end of the third quarter of 2018.
Last July, the company received U.S. Food and Drug Administration clearance for the SureForm 45 Curved-Tip stapler, a single-use, fully wristed stapling instrument with a curved tip, and SureForm 45 Gray reload, a new, single-use cartridge that contains multiple staggered rows of implantable staples and a stainless steel knife.
These have particular utility in thoracic procedures and round out our SureForm 45 portfolio.
Shares in ISRG sprang up $30.29, or 5.7%, early Friday to $559.69
