Intuitive Surgical stock rallies more than 10% following earnings beat

Intuitive Surgical Inc. shares rallied Wednesday after the surgical robotics company’s quarterly results topped Wall Street estimates. Intuitive Surgical shares rose more than 12% to an intraday high of $220.98 Wednesday Late Tuesday, the company reported third-quarter net income of $324 million, or 90 cents a share, compared with $380.5 million, or $1.04 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were flat at $1.19 a share. Revenue rose to $1.56 billion from $1.4 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.12 a share on revenue of $1.52 billion.

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