Intuitive Surgical, AmEx, Skyworks: After-Hours Trading (Update 1)

Updated from 6:07 p.m. ET for latest share prices, added information on American Express.

NEW YORK ( TheStreet) -- Shares of Intuitive Surgical ( ISRG) fell in late trades on Thursday despite another above-consensus quarterly profit from the high-flying maker of robotic surgery equipment.

Intuitive Surgical has now beaten Wall Street's earnings per share view in nine straight quarters, according to Thomson Reuters data. For the three months ended Dec. 31, the Sunnyvale, Calif.-based company earned $151 million, or $3.75 a share, on revenue of $497 million, up 22% from last year.

Investors may be keying off news that at least some of the company's 12% upside surprise was fueled by a lower income tax rate in the latest quarter. Intuitive Surgical said its full-year income tax rate came in at 30.2% of pretax income, down from a 32.1% rate recorded through the first three quarters of the fiscal year. The decline in the latest quarter was attributed to "a favorable geographic split of pre-tax earnings and lower state taxes."

The stock was last quoted at $452.50, down 4.7%, on volume of nearly 110,000, according to Nasdaq.com. Based on Thursday's regular-session close at $474.65, the shares have risen more than 60% in the past year, hitting a 52-week high of $443 in October.

The company said it sold 152 of its da Vinci robotic surgery systems in the latest quarter vs. sales of 124 systems in the same period a year ago, and 133 systems in the third quarter.

Wall Street had cooled on Intuitive Surgical ahead of the report, mainly because of valuation, with 11 of the 17 analysts covering the shares at either hold (10) or underperform (1), and the median 12-month price target at $467.50.

Check out TheStreet's quote page for Intuitive Surgical for year-to-date share performance, analyst ratings, earnings estimates and much more.

American Express

Shares of Dow component American Express ( AXP) slipped 2% to $49.90 on volume of more than 400,000 after the credit card issuer came in a bit short of Wall Street's revenue expectations in its latest quarter.

AmEx grew net income by 12% year-over-year to $1.19 billion in the December-ended period from $1.06 billion in the year-ago equivalent quarter. On a per share basis, the company earned $1.01 per share in its fiscal fourth quarter, 3 cents ahead of the average estimate of analysts polled by Thomson Reuters for a profit of 98 cents a share.

Revenue net of interest expense came in at $7.74 billion in the quarter vs. the consensus view of $7.92 billion though. That performance was up 7% from last year's equivalent total, reflecting "continued strong growth in cardmember spending and higher travel commissions and fees" but the company also said it experienced a "slight decrease in net interest income that reflected lower yields on the loan portfolio."

Based on Thursday's regular-session close at $50.95, AmEx shares are up 10.8% in the past year, but its 52-week high of $53.80 dates back to July 7.

Skyworks Solutions

Shares of Skyworks Solutions ( SWKS) rose nearly 5% in the extended session after the Woburn, Mass.-based chip company topped the consensus view for its fiscal first-quarter results.

Skyworks reported a non-GAAP profit of $105.2 million, or 51 cents a share, in the three months ended Dec. 31 with revenue rising 17% year-over-year to $393.7 million. The company noted that this total exceeded its own guidance of $390 million.

The average estimate of analysts polled by Thomson Reuters was for earnings of 50 cents a share in the latest quarter on revenue of $389.6 million.

"Skyworks' solid performance against the current economic backdrop is being driven by our expanding positions in adjacent analog semiconductor markets, global demand for mobile internet applications and strong operational execution," said David Aldrich, the company's president and CEO, in a statement. "More specifically, we are capitalizing on new opportunities in medical, automotive, smart energy and home automation markets while capturing additional content and share within LTE smart phones, e-readers, tablets and LED TVs."

Skyworks said it expects non-GAAP earnings of 40 cents a share on revenue of $360 million for its fiscal second quarter ending in March. Wall Street is currently looking for earnings of 40 cents a share in the period on revenue of $348.9 million.

The stock was last quoted at $20.35, up 5.7%, on volume of more than 570,000, according to Nasdaq.com. The shares have been on a year so far in 2012, rising more than 15%, but they were down more than 35% in the past year.

Elsewhere in the after-hours session, big tech ruled the day. Google ( GOOG) shares dropped 9% to $582.60 on volume of more than 2.5 million after the Internet search leader's profit missed Wall Street's expectations because of rising operating expenses and an adverse impact of foreign currency fluctuations on revenue; Microsoft ( MSFT) shares advanced more than 2% to $28.75 on volume of 4.3 million after the software giant rode strong sales of its Xbox and Kinect gaming equipment to an above-consensus earnings report in its fiscal second quarter, although revenue was a tad light; Intel ( INTC) shares ticked higher after the chip giant was able to edge past its lowered revenue in the latest quarter; and IBM ( IBM) shrugged off its own slight revenue shortfall in its latest quarter to gain nearly 3% in late trades after Big Blue gave an upbeat outlook for fiscal 2012.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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