Intuitive Surgical is Investing $1 Billion -- in Itself
Even amid an economic downturn, Intuitive Surgical (NASDAQ: ISRG) delivered third-quarter results that show the company is in peak physical condition. Beyond the top and bottom line numbers -- which gave the company a clean bill of health -- management shared other developments that show that even in the most trying times, the company is a smooth operator.
Furthermore, one of the revelations in its quarterly checkup is that Intuitive Surgical is making a huge investment in itself that will help shareholders become financially healthier in the balance.
Intuitive Surgical announced revenue of $1.56 billion, up 11% year over year. Headwinds from a strong dollar masked the full strength of the results, which grew 15% in constant currency. The performance was driven by robust growth in procedure volume, partially offset by fewer system placements. Growing surgical procedures increases the likelihood of future system purchases. Instruments and accessories revenue, which is recurring, jumped 15%, also fueled by a 20% increase in procedures. This resulted in earnings per share (EPS) of $1.19.
Source Fool.com
