IRobot Posts Better-Than-Expected Q1 Earnings
Roomba’s parent company, iRobot Corp., saw its stock price surge Wednesday after reporting higher-than-expected Q1 2017 earnings.
The Bedford-based technology company’s stock rose 15% and closed just over $80 after reporting $169M in Q1 revenue, the Boston Business Journal reports. While the Roomba 900, its most expensive autonomous vacuum cleaner, drove most of the revenue growth, its line of Braava autonomous wet mop cleaners also had a rise in sales.
"Our first quarter results were outstanding. Building off the strong momentum we experienced during the year-end holidays, iRobot delivered first quarter 2017 consumer revenue growth of 32% due to growth across all regions," iRobot CEO Colin Angle said in a statement.
The Route 128 company has since revised its 2017 revenue estimate and now expects to bring in $780M to $790M.
