iRobot shares jumped more than 20 percent in premarket trading Wednesday, after raising guidance on the heels of a stronger-than-expected Amazon Prime Day earlier this month.
The company also said second-quarter revenue increased more than 45 percent year over year to $183.1 million, topping Wall Street’s expectations.
On Amazon Prime Day July 10th, “we sold more than twice the volume sold on Prime Day in 2016, which was twice what the volume sold in 2015. The Roomba 652 was ranked #1 in robotic vacuum cleaners, #1 in all floor care and #2 in all home & kitchen for 2017 Prime Day,” stated the iRobot press release.
In part because of the boost from Amazon, iRobot raised its forecast for 2017, projecting earnings of $1.80 to $2 a share vs a prior forecast of $1.45 to $1.70.
iRobot also announced on Tuesday a $141 million purchase of Robopolis SAS, its largest European distributor, according to Reuters.
Before today, iRobot shares were already up 50 percent for 2017 compared to the S&P 500’s gain of 11 percent.
Source: Tech CNBC
Shares of Roomba maker iRobot jump 20% after sales surge on Amazon