Purple Innovation Inc. (PRPL) said after close Wednesday that it earned $0.03 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $143.3 million, beating estimates by $4.1 million.
In the same quarter a year ago, the company lost $0.07 per share on revenue of $170.8 million.
The stock is up 35.04% to $4.61 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Purple Innovation Inc. has performed a little above average during the past few months. Before the report, Purple Innovation Inc. received a Long-Term Technical Rank by InvestorsObserver of 73, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $2.65 on September 6, 2022 and set a 52-week high on November 10, 2021 at $16.51.
Purple Innovation Inc is a comfort innovation company. The company designs, manufactures and sells a range of comfort technology offerings, including mattresses, a pillow, cushions, sheets, bed platforms, and other products. It sells its products through online channels, traditional wholesale partners and third-party online retailers.
News Home
Purple Innovation Inc. Up 35.04% To $4.61 After Earnings Beat
Mentioned in this article
