Sunnyvale, Calif.-based Intuitive posted bottom-line growth of 6.6% to $306.5 million, or $2.56 per share, on sales of $973.7 million for the three months ended March 31, for top-line growth of 14.9% compared with Q1 2018.
Adjusted to exclude one-time items, earnings per share were $2.61, 9¢ below the consensus estimate on Wall Street, where analysts were looking for sales of $973.4 million.
“We are pleased with our first quarter procedure and da Vinci system placements. Our teams continue to work closely with hospitals, physicians and their care teams in pursuit of better outcomes, decreased variability, better experiences for both physicians and patients and, ultimately, lowering the total cost of care,” CEO Gary Guthart said in prepared remarks.
Intuitive said it now expects procedure growth this year to come in at the high end of its prior guidance at 15% to 17%, compared with 13% to 17% previously.
ISRG shares, which closed up a hair at $528.06 apiece yesterday, slid -7.2% to $490 even in after-hours trading.