iRobot cleans up nicely!

by | Jun 16, 2020

(Photo courtesy cbsistatic.com)

People have started cleaning more. This could possibly due to the fact that after 3 months of staying home, things have gotten a little…messy. Or it could be because there’s a global pandemic going on.

Either way, it’s very good news for iRobot.

Shares of iRobot, the company that makes Roomba (the robot vacuum), surged nearly 15% yesterday after the company announced that second-quarter sales would be “substantially better” than it previously expected.

  • iRobot stock is now up 70% this year

The specifics: iRobot said that it now expects second-quarter revenue to come in around $265 million, far better than the previous forecast of $193 million.

iRobot expects “robust growth” in orders for higher-end products such as its Roomba i7 and s9 models and Braava jet mops.

And they are certainly high-end. The Roomba s9 comes with a $999 price tag – These vacuums definitely don’t suck.

“Maintaining a clean home has become a higher priority for many consumers as Covid-19 has forced people to spend more time in their homes,” said iRobot chairman and CEO Colin Angle.

With all these new Roomba sales, everyone’s old vacuum cleaners will just be collecting dust.

Get paid to learn financial literacy

Recent Posts

Financial Literacy in a Post-COVID World

Financial Literacy in a Post-COVID World

In a world where businesses disappear overnight and even the ability to see our families for the holidays is still up in the air — it’s time to give individuals the tools they need to navigate uncertainty in where it matters the most.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *