iRobot Beats Expectations, But Lower Holiday Guidance Hammers Shares
Expectations were subdued going into iRobot's (NASDAQ: IRBT) third-quarter financial report, weighed down by the continuing trade war between the U.S. and China and the emergence of cut-rate competition. The technology company was able to brush off those factors and turn in solid results, boosted by strong international sales and a large shipment of its products to Amazon.com, which was previously scheduled for the fourth quarter.
Despite its better-than-expected performance, however, iRobot shares were pummeled after the company lowered its guidance for the all-important holiday quarter, citing tariffs. Shares fell nearly 20% in after-hours trading Tuesday evening following the report.
Image source: iRobot.
Source Fool.com
