iRobot earnings (NASDAQ:IRBT) were released late in the day on Wednesday and the company’s results were well ahead of what analysts were calling for for the period on both the earnings and revenue front, helping to lift IRBT stock more than 10% after hours.
For its fourth quarter of its fiscal 2018, the Bedford, Mass.-based tech company said that it brought in net income of $25.2 million, which amounted to roughly 88 cents per share. The figure marked a 447.8% gain compared to its year-ago net income of $4.6 million, or 16 cents per share.
iRobot was projected to bring in earnings of 50 cents per share, according to data compiled by FactSet on a survey. The company added that the quarter yielded revenue of $384.7 million, a 17.7% increase when compared to the $326.9 million from its last period of its fiscal 2017.
Analysts were calling for the tech company to rake in sales of $381 million in an outlook that was compiled by a FactSet survey. iRobot said that it sees its fiscal 2019 as bringing in earnings of $3 to $3.25 per share on revenue of $1.28 billion to $1.31 billion.
Wall street is calling for 2019 earnings of $2.88 per share and sales of $1.28 billion.
IRBT stock is up a whopping 14.2% after the bell on Wednesday thanks to the company’s positive fourth quarter, which helped it end its fiscal 2018 with a bang. Shares had been up close to 0.4% during regular trading hours as it geared up to report for its latest period.