Sleep Number: Q2 Earnings Snapshot
Posted Jul 20, 2021 2:20 pm.
Last Updated Jul 20, 2021 2:31 pm.
MINNEAPOLIS (AP) _ Sleep Number Corp. (SNBR) on Tuesday reported second-quarter net income of $22.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Minneapolis-based company said it had profit of 88 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The seller of beds, mattresses and bedding products posted revenue of $484.3 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $510.3 million.
Sleep Number expects full-year earnings to be $7.25 per share.
Sleep Number shares have climbed 37% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $111.81, more than doubling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNBR at https://www.zacks.com/ap/SNBR
The Associated Press
