(Reuters) -Intuitive Surgical 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)
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