IRobot stock surges 13% after earnings beat, strong guidance
IRobot Corp. shares shot up more than 13% in the extended session Wednesday after the company beat Wall Street expectations for earnings and revenue, and issued better-than-expected guidance. The company reported fourth-quarter net income of $25.2 million, or 88 cents a share, compared with $4.6 million, or 16 cents a share, in the year-ago period. Revenue rose to $384.7 million from $326.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 50 cents a share on revenue of $381 million. For the first quarter, analysts model earnings of 63 cents on sales of $256 million; analysts expect full-year 2019 earnings of $2.88 a share and sales of $1.28 billion. For fiscal 2019, iRobot said it expects earnings of $3 to $3.25 a share on sales of $1.28 billion to $1.31 billion. IRobot stock has gained 2.7% in the past year, with the S&P 500 index rising 1.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.