Why iRobot Corporation Stock Skyrocketed Today

Shares of iRobot Corporation (NASDAQ: IRBT) were up 23% as of 1:30 p.m. EDT Wednesday after the home robotics company reported stronger-than-expected second-quarter 2017 results, increased its full-year guidance, and announced the acquisition of its largest European distributor.

iRobot's quarterly revenue grew 23.1% year over year to $183.1 million, including a more-than-45% increase in U.S. consumer revenue thanks in part to strong sales of Roomba products on Amazon Prime Day. That translated to adjusted earnings of $0.12 per share, which excludes a $0.15-per-share benefit from new accounting standards adopted earlier this year related to stock-based compensation. By contrast, Wall Street was looking for iRobot to report a quarterly loss of $0.28 per share on lower revenue of $176 million. 

Image source: iRobot.

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Source: Fool.com