(Reuters) -Intuitive Surgical beat Wall Street estimates for second-quarter profit and revenue on Tuesday, driven by growing demand for its surgical robots used in minimally invasive procedures.
A steady rise in demand for elective surgeries has contributed to higher procedure volumes for medical device makers such as Intuitive Surgical in recent quarters.
The company, known for its da Vinci robotic systems, has seen consistent growth as hospitals work through a backlog of deferred procedures and expand access to minimally invasive care.
The medical device maker slightly raised its adjusted gross profit margin forecast for 2025 to between 66% and 67% of revenue, up from earlier estimates of 65% to 66.5%.
The updated range includes an estimated impact from tariffs of 1% of revenue, plus or minus 20 basis points, Intuitive said, compared to previously estimated impact of 1.7% of revenue, plus or minus 30 basis points.
Shares of the Sunnyvale, California-based company fell 1.5% in after-hours trading.
More than 80% of the instruments and accessories for the company’s da Vinci system are produced at Intuitive’s facility in Mexico, while the company also operates in China and other international markets.
Intuitive’s worldwide da Vinci procedure volumes rose about 17% compared to the same quarter last year.
The company expects global da Vinci-assisted procedures to increase by about 15.5% to 17% in 2025, up from its prior forecast of 15% to 17%.
On an adjusted basis, the medical device maker earned $2.19 per share for the quarter ended June 30, beating analysts’ estimates of $1.92 per share, according to LSEG data.
The company reported revenue of $2.44 billion for the second quarter, compared to analysts’ estimates of $2.35 billion.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Mohammed Safi Shamsi)
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