UPDATE: Intuitive Surgical Q4 Profit Surges 16%

Intuitive Surgical

reported a 16% rise in its fourth-quarter earnings. Intuitive Surgical's quarterly profit climbed to $174.9 million, or $4.25 per share, from $151.2 million, or $3.75 per share, in the year-ago period. Its revenue rose 23% to $609.3 million. However, analysts were expecting earnings of $4.04 per share on revenue of $584 million. Intuitive Surgical's systems sales climbed 18% to $264.9 million in the latest quarter, while overall procedures surged 25%. Its gross margin declined to 71.9% from 73%. Intuitive Surgical shares jumped 8.68% to $563.50 in after-hours trading.