Intuitive Surgical (NASDAQ:ISRG) kicked off the day with nearly a 9% surge in its stock price, as investors reacted positively to its third-quarter 2024 earnings. The company reported a solid 17% jump in revenue to $2.04 billion, driven by an 18% rise in da Vinci procedure volume. Instrument and accessory sales climbed in tandem, while systems revenue reached $445 million, thanks to the placement of 379 da Vinci surgical systems, including 110 of the latest da Vinci 5 models. This brought the installed base to 9,539 systemsa 15% boost year-over-yearshowcasing the accelerating adoption of robotic-assisted surgery.

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The financials paint a picture of growing strength. GAAP net income soared to $565 million, or $1.56 per share, marking a significant leap from $416 million last year. On a non-GAAP basis, net income climbed to $669 million, or $1.84 per share. With income from operations rising to $577 million and cash reserves swelling to $8.31 billion, Intuitive's strategic moves continue to strengthen its market position and build a solid foundation for future growth in minimally invasive care.

Adding fuel to the momentum, Intuitive recently secured regulatory approval for its da Vinci 5 system in South Korea, unlocking new growth avenues in urology, gynecology, and cardiothoracic procedures. The combination of expanding international markets and increasing demand for robotic-assisted surgery positions Intuitive well for sustained growth, as it continues to redefine the landscape of surgical care and drive shareholder value.

This article first appeared on GuruFocus.