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.
Meanwhile, the Federal Communications Commission (FCC) has potentially changed the game for augmented and virtual reality devices.
The FCC voted Thursday to open a 6 GHz band of spectrum for certain devices in a move the agency said creates “a new class of very low power devices.”
The new band will “spur an eco-system of cutting-edge applications, including wearable technologies and augmented and virtual reality, that will help businesses, enhance learning opportunities, advance healthcare opportunities, and bring new entertainment experiences,” the FCC said in a statement.
Elsewhere, Ford Motor Company (NYSE:F) is letting go of another 150 workers at a Detroit area plant.
That means Ford has now laid off over 2,730 workers due to the ongoing UAW strike.
The latest layoffs have affected the Sterling Axle plant in the Detroit metropolitan area, according to reports.