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Intuitive Surgical, Inc. (NASDAQ: ISRG) released its Q1 earnings report Tuesday afternoon, and shares of the company were up 2 percent after it surpassed expectations. Intuitive Surgical is up slightly less in Wednesday's premarket session.
Intuitive Surgical reported Q1 EPS of $4.42, which compares to $3.57 last year. Analysts had been expecting EPS of $4.33.
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Looking at revenues, the robotic surgery system company posted revenues of $594.5 million, which also beat forecasts. Analysts had been expecting $586 million. Q1’s revenue represented an increase of 11.7 percent year-over-year.
Higher Q1 revenues were driven by growth in its instrument, accessory, and service revenue segments.
The company also raised its FY16 procedure growth outlook and is now looking at the range of 12 percent to 14 percent.
The company shipped 110 da Vinci Surgical Systems, compared to 99 in Q1 2015.
Shares of the company are up 16 percent year-to-date.
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