Intuitive Surgical Beats Q4 Earnings Estimates, Stock Rallies

Despite strong growth in 2023, the company projects a slowdown in procedure growth in 2024.

Intuitive Surgical's Q4 earnings surpassed expectations, with a 30% YoY increase in adjusted earnings per share to $1.60, beating analyst estimates of $1.48.
The company reported Q4 sales of $1.93 billion, a 17% increase, driven by a 21% rise in the number of procedures using its da Vinci system.
Sales of one-time use instruments and accessories, a major revenue source, jumped 22% YoY.
ISRG stock rallied in late trades, rising more than 6% to $395 in after-hours trading.
Despite strong growth in 2023, the company projects a slowdown in 2024, with procedure growth expected to be between 13% and 16%.