- 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.
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Intuitive Surgical misses on bottom line in Q4; shares down 12% after hours