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