## Intuitive Surgical Reports Strong Q1 Results
Intuitive Surgical Inc. (ISRG) reported strong first-quarter financial results on Thursday, exceeding analyst expectations. The company's revenue grew 11% year-over-year to $1.89 billion, beating the consensus estimate of $1.87 billion. Adjusted earnings per share came in at $1.50, exceeding analyst estimates of $1.41.
The growth was driven by a 16% increase in worldwide da Vinci procedures. Intuitive Surgical also placed 313 da Vinci surgical systems in the quarter, compared to 312 in the prior year's quarter. Eight of the systems placed were the company's new da Vinci 5 systems.
As of March 31, Intuitive Surgical's da Vinci surgical system installed base totaled 8,887 systems, a 14% increase year-over-year. The company ended the quarter with $7.32 billion in cash, equivalents, and investments.
"The core measures of our business remained healthy this quarter, as we reached meaningful milestones across several parts of our business," said Gary Guthart, CEO of Intuitive Surgical.
"We are pleased by feedback from our measured da Vinci 5 launch as well as the continued adoption of SP and Ion, and we remain focused on delivering the goals we share with our customers, including improving patient outcomes."
Following the release, Intuitive Surgical shares were volatile during after-hours trading. The stock was up 1.03% at $372.85 at the time of publication.