Intuitive Surgical (NASDAQ:ISRG) shares dropped nearly 8% in extended trading Thursday after the company’s quarterly revenue fell short of expectations.
The surgical robotics company posted third-quarter revenue of $1.74 billion, up from $1.56 billion a year earlier but slightly short of the analyst consensus of $1.77 billion.
Adjusted earnings were $1.46 per share, up from $1.19 per share in the year-ago quarter and narrowly ahead of Street expectations of $1.42 per share.
On a positive note, the company reported 19% growth year-over-year in the number of procedures using its da Vinci robotic surgery systems, compared to expectations of 17.2%.
Sales of instruments and accessories also surged 23% to $1.07 billion, topping projections of $1.06 billion.
However, investors may have been discouraged by Intuitive Surgical (NASDAQ:ISRG)’s decision not to issue full-year guidance.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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