How Roomba Maker iRobot Beat Analyst Forecasts
Consumer robot manufacturer iRobot (NASDAQ: IRBT), maker of Roomba and Braava autonomous house-cleaning devices, vacuumed up plenty of profits during the second quarter, according to the earnings report it released yesterday. The quarter ended June 27 saw revenue jump 8% year over year, surpassing analyst consensus estimates by more than $14 million. The $279.9 million in revenue even beat the predictions of Chief Executive Officer Colin Angle, who anticipated between $260 million and $270 million in sales.
Earnings per share (EPS) under generally accepted accounting principles (GAAP) and adjusted EPS also exceeded analyst expectations by $0.80 and $0.77 per share, respectively. The growth represents a positive reversal from iRobot's first-quarter results, which saw a stunning plunge of 18.99% year over year during the height of the COVID-19 pandemic.
Image source: iRobot.
Source Fool.com
