By Ben Glickman

Intuitive Surgical posted a higher profit in the first quarter as the company's growth in procedures and its installed robotic surgery systems continued.

The Sunnyvale, Calif.-based company reported a profit of $544.9 million, or $1.51 a share, in the quarter ended March 31, compared with $355.3 million, or $1 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.23.

Stripping out certain one-time items, adjusted per-share earnings came to $1.50, ahead of the $1.42 forecast by analysts, according to FactSet.

Revenue rose 11% to $1.89 billion, beating the $1.87 billion expected by analysts polled by FactSet.

Intuitive Surgical said procedures with its da Vinci robotic systems were up 16% compared to the year ago quarter, while the company's installed base was up 14% from a year earlier.

Write to Ben Glickman at

(END) Dow Jones Newswires

04-18-24 1634ET