iRobot Is Getting Hammered by Trade War Tariffs
Expectations were already pretty low going into iRobot's (NASDAQ: IRBT) second-quarter earnings release. The company had reported decelerating revenue growth in the first quarter, which sent the stock into free fall back in April, losing 23% on the day following its financial report.
That pattern of slowing revenue growth continued after the market close on Tuesday, as iRobot posted worse-than-expected financial results, lowered its 2019 forecast, and warned that the recent tariff increase would pinch results even further. This sent the stock tumbling another 17% as of Thursday morning. Let's take a look at the results and how the trade war is impacting iRobot's business.
Image source: iRobot.
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