Intuitive Surgical Shares Fall About 8% Premarket After Settlement Charge

Intuitive Surgical (ISRG) shares fell about 8% in premarket trading Wednesday, Oct. 21, after a $450 million antitrust settlement charge cut reported profit despite stronger-than-expected third-quarter sales and adjusted earnings. Shares traded around $404 to $405 before the opening bell, compared with Tuesday’s $438 close. Revenue rose 22% from a year earlier to $3.05 billion, exceeding the $2.91 billion analyst forecast. Adjusted earnings were $3.00 per diluted share, above the $2.65 estimate. Under generally accepted accounting principles (GAAP), net income fell to $523 million, or $1.49 per diluted share, from $704 million, or $1.95 per share, a year earlier.

Source: TokenPost