IRobot: 2Q Earnings Snapshot
Posted Jul 21, 2020 04:24:56 PM.
Last Updated Jul 21, 2020 04:30:15 PM.
This article is more than 5 years old.
BEDFORD, Mass. (AP) _ IRobot Corp. (IRBT) on Tuesday reported second-quarter profit of $58.6 million.
The Bedford, Massachusetts-based company said it had profit of $2.07 per share. Earnings, adjusted for one-time gains and costs, were $1.06 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The robotics technology company posted revenue of $279.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $264.5 million.
IRobot shares have increased 69% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $85.77, a decrease of 7% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRBT at https://www.zacks.com/ap/IRBT
The Associated Press
