Why iRobot Stock Was a Winner on Wednesday
Hitting or missing analyst estimates isn't necessarily a make-or-break situation for a publicly traded company. This was illustrated sharply by robot vacuum cleaner manufacturer (NASDAQ: IRBT) on Wednesday, following the publication of its second-quarter earnings release. Bullish investors pushed the company's share price up in afternoon trading, and toward the end of the session they had gained almost 7%. The sputtering S 500 index, meanwhile, was trading down by nearly 0.4%.
iRobot's revenue fell to just over $166 million in the period from nearly $237 in the same period of 2023. Also heading in an unfavorable direction was the company's non-GAAP (adjusted) bottom-line loss, which deepened to $57.5 million ($1.96 per share) from the year-ago deficit of $39.3 million.
Even for the troubled iRobot, analysts were expecting better. Collectively, they believed the company would post revenue of slightly more than $169 million, accompanied by an adjusted net loss of $1.77 per share.
Source Fool.com
