IRobot Raises Forecast After Boost From Amazon Prime Day, Stock Skyrockets To Record Levels

By Jeremy C. Owens Markets MarketWatch Pulse

iRobot Corp. jumped as much as 30% in late trading Tuesday after announcing second-quarter earnings that were much better than expected and raising full-year guidance. The maker of Roomba robotic vacuums said it had profit of $7.9 million, or 27 cents a share, on sales of $183.1 million. Analysts on average expected iRobot to report a loss of 33 cents a share on sales of $176.2 million. iRobot also raised its full-year guidance, and noted a success on on Amazon.com Inc.'s recent Prime Day, on July 11, not long after the end of the second quarter. "We sold more than twice the volume sold on Prime Day in 2016, which was twice what the volume sold in 2015," the company said in its announcement. iRobot now expects earnings per share of $1.80 to $2 on sales of $815 million to $825 million for the full year, after previously forecasting earnings of $1.45 to $1.70 a share on sales of $780 million to $790 million. iRobot--which also announced an agreement to acquire its largest European distributor, Robopolis, for $141 million--saw shares rise as high as $112.50 after the announcement, well higher than its record price of $104.61.

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