Intuitive Surgical beats estimates on recovery in demand for da Vinci Surgical Systems
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Intuitive Surgical (NASDAQ:ISRG) on Thursday posted Q1 result that were above estimates, helped by recovery in demand for its da Vinci Surgical Systems after the COVID-19 impact in 2021.
Quarterly instruments and accessories revenue increased by 15% Y/Y to $810 million, primarily driven by about 19% growth in da Vinci procedure volume. 


Revenue for Q1 2022 rose 15% Y/Y to $1.49B, and beat analyst estimate by $60M.
Quarterly Non-Gaap EPS of $1.13, beat analyst estimates by $0.05.
The company grew its da Vinci Surgical System installed base 13% Y/Y to 6,920 systems.
Non-GAAP net income for the quarter fell to $413M from $427M in the prior-year quarter.
"During 2021 and 2022, COVID-19 resurgences continued to impact da Vinci procedure volumes. The impact of the COVID-19 pandemic on the Companyâs business has, and continues to, differ by geography and region. COVID-19 has had, and will likely continue to have, an adverse impact on the Companyâs procedure volumes," the company said. 
A conference call on earnings is scheduled for today at 4:30 p.m. EST.
(ISRG) was trading 1.8% higher post market.