Intuitive Surgical, Inc. (NASDAQ: ISRG) stock rose over 1.7% in the pre market session on October 19^th, 2018 (Source: Google finance) after the company posted better than expected results for the third quarter 2018. Third quarter 2018 non-GAAP net income was $337 million compared with $325 million for the third quarter of 2017. Worldwide da Vinci procedures grew approximately 20% compared with the third quarter of 2017, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures. The Company shipped 231 da Vinci Surgical Systems compared with 169 in the third quarter of 2017. The Company shipped the first three da Vinci SP Surgical Systems in the third quarter of 2018. The da Vinci SP system is the Company’s latest surgical system platform which delivers the surgical instruments and camera through a single port for narrow access surgery. In August 2018, the Company submitted a premarket notification to the U.S. Food and Drug Administration (“FDA”) for the Ion endoluminal system, the Company’s new flexible robotic-assisted, catheter-based platform, designed to navigate through very small lung airways to reach peripheral nodules for biopsies. The Company ended the third quarter of 2018 with $4.6 billion in cash, cash equivalents, and investments, an increase of $311 million during the quarter, primarily driven by cash generated from operations.

Moreover, global procedure growth was approximately 20% in the third quarter of 2018, compared with the third quarter of 2017, increasing modestly from our Q2 growth rate. Trends present in the first half of the year have continued with the United States showing particular strength in hernia repair, colorectal procedures, and practice related general surgery procedures, including cholecystectomy. Mature procedure growth in the United States, including prostatectomy and hysterectomy was solid again in the quarter. In Japan, procedures grew above 40% year-over-year. European procedure performance was generally in line with our expectations again this quarter with particular strength in the UK

ISRG in the third quarter of FY 18 has reported the adjusted earnings per share of $2.83, beating the analysts’ estimates for the adjusted earnings per share of $2.66. The company had reported the adjusted revenue growth of 14 percent to $920.9 million in the third quarter of FY 18, beating the analysts’ estimates for revenue of $916.7 million. Third quarter 2017 revenue included $21 million that had previously been deferred in connection with a customer trade-out program that the Company had offered certain first quarter 2017 customers.