By Paul Ziobro

Intuitive Surgical posted higher third-quarter profit due to a double-digit increase in procedures using its robotic-surgery system.

The Sunnyvale, Calif.-based company on Thursday reported a profit of $415.7 million , or $1.16 share, compared with a profit of $324 million, or 90 cents a share, in the same quarter last year.

Excluding one-time items, the company reported earnings of $1.46 a share. Analysts recently polled by FactSet expected $1.42 a share.

Revenue rose 12% to $1.74 billion, compared with analyst expectations of $1.77 billion.

Instruments and accessories revenue rose by 23% to $1.07 billion, helped by a 19% increase in procedures using its da Vinci system and higher prices.

The company said its installed base of da Vinci systems stood at 8,285 at the end of the third-quarter, up 13% from a year ago.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

October 19, 2023 16:40 ET (20:40 GMT)

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