Intuitive Surgical 2nd-quarter profit drops 35 percent, tops estimate
Intuitive Surgical Inc. (ISRG) on Tuesday reported profit that decreased by 35 percent in its second quarter, and beat analysts' expectations.
The Sunnyvale, California-based company said earnings declined to $104 million, or $2.77 per share, from $159.1 million, or $3.90 per share, in the same quarter a year earlier. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.76.
The company said revenue decreased 11 percent to $512.2 million from $578.5 million in the same quarter a year earlier, and topped Wall Street forecasts. Analysts expected $498.6 million, according to Zacks.
Intuitive Surgical shares have risen $8.08, or 2.1 percent, to $392.16 since the beginning of the year, while the Standard & Poor's 500 index has increased 7.3 percent. However, the stock has dropped $2.46, or 0.6 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Full ISRG report: http://www.zacks.com/ap/ISRG
Keywords:Intuitive Surgical,Earnings Report