iRobot beats estimates and raises guidance
iRobot (Nasdaq: IRBT) needed this in the worst way. The company reported its second quarter earnings after market close today and beat estimates while also raising guidance. iRobot was seeing daily 52-week lows for a quite a while now and this couldn’t have happened at a better time. The stock was up close to 7% in after-hours trading adding to its about 6% gain during the day. iRobot has been beaten up so bad that any decent news would have moved the stock up.
Note that the same thing happened after last quarter’s earnings were released and obviously iRobot couldn’t sustain the momentum. I am not sure if the same thing happens again but according to thorn_stevens there is a lot of upside here.
I would have analyzed this further but instead I am going to point everyone to Robotstocknews.blogspot.com, where thorn_stevens does a great job of tracking iRobot.
Here’s the direct link to the post on the 2nd quarter earnings:
http://robotstocknews.blogspot.com/2006/07/irobot-corporation-reports-boffo-2nd.html
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