Intuitive Surgical (NSDQ:ISRG) shares slid in after-hours action today when the robotic surgery company confirmed the lower-than-expected 2nd-quarter sales and earnings it previewed earlier this month.
Sunnyvale, Calif.-based Intuitive reported profits of $159.1 million, or $3.90 per share, on sales of $578.5 million for the 3 months ended June 30, for a top-line gain of 7.8% and bottom-line growth of 2.7%.
That’s roughly in line with the medical device company’s preliminary results, revealed July 8, calling for sales of about $575 million. That news sent shares plunging 12% after hours; today investors’ reaction was more muted, with ISRG shares falling 0.7% to $421.47 each as of about 4:20 p.m.
Intuitive said its instruments and accessories sales rose 18% to $265 million during the quarter, largely due to increased procedure volumes. Revenues from the sale of 143 of its flagship da Vinci robotic surgery system were $216 million, with service revenues up 18% to $98 million.