Oct 21 (Reuters) - Intuitive Surgical ( ISRG ) on
Tuesday reported better-than-expected third-quarter profit and
revenue, driven by growing demand for its surgical robots used
in minimally invasive procedures.
Shares of the Sunnyvale, California-based company surged 17%
in extended trading.
The company, known for its da Vinci robotic systems, has
seen steady growth as hospitals work through a backlog of
deferred procedures and expand access to minimally invasive
care.
The medical device maker slightly raised its adjusted gross
profit margin forecast for 2025 to between 67% and 67.5% from
between 66% and 67%.
The updated range includes an estimated impact from tariffs
of 0.7% of revenue, plus or minus 10 basis points, compared with
the previously estimated impact of 1% of revenue.
More than 80% of the instruments and accessories for the
company's da Vinci system are produced at Intuitive's facility
in Mexico, while the company also operates in China and other
international markets.
The company now expects worldwide da Vinci-assisted
procedures to increase about 17% to 17.5% in 2025, compared with
its previous range of 15.5% to 17%.
On an adjusted basis, the medical device maker earned $2.40
per share for the quarter ended September 30, beating analysts'
estimates of $1.98 per share, according to LSEG data.
The company reported revenue of $2.51 billion for the third
quarter, compared with analysts' estimates of $2.40 billion.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Anil
D'Silva)