Intuitive Surgical misses on bottom line in Q4; shares down 12% after hours
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Intuitive Surgical (NASDAQ:ISRG) saw its Q4 2022 net income decline 12% to $336.7M as an increasing in operating expenses weighed down earnings.
Shares are off 12% in after-hours trading.
For the quarter, non-GAAP EPS was $1.23 compared to $1.29 in the year-ago period.

Total operating expenses increased ~21% year over year to $738.4M. R&D expenses alone increased 33% to $244.1M.
Net income missed analyst expectations by 2 cents, while revenue of $1.66B was in-line and a ~7% increase from Q4 2021.
Instruments and accessories, the company's biggest division, drove the revenue growth, accounting for $940.7M in the quarter.
The company ended the quarter (Dec. 31, 2022) with cash and its equivalents of $~6.7B compared to $~8.6B in the year-ago period.
Read why Seeking Alpha contributor Another Mountain's Rock Investing views Intuitive Surgical (ISRG) as a hold.