By Sabela Ojea

Shares of Intuitive Surgical Inc. on Tuesday climbed 8% to $291 in after-hours trading after the provider of robotic-assisted surgical solutions and invasive care posted strong revenue growth from its robotic surgery system.

The company said first-quarter revenue climbed 14% to $1.7 billion on the back of higher da Vinci procedure volume. Analysts polled by FactSet had forecast revenue of $1.59 billion.

Intuitive Surgical saw installations of its da Vinci surgical system increase to 7,779 systems as of March 31, up 12% from a year earlier, it said.

The company's da Vinci revenue growth comes as worldwide procedures using its da Vinci system rose about 26% in the period, it added.

Intuitive Surgical's profit, on the other hand, fell to $355.3 million, or $1 a share, compared with $365.6 million, or $1 a share, for the same period a year earlier.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

April 18, 2023 17:29 ET (21:29 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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