Purple Innovation Reports Record First Quarter 2021 Results
- Stocks face worst month since September, yen swings after BoJ
- Microsoft fiscal Q3 results top estimates as AI revolution spurs cloud growth
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- Intel slides in afterhours trading as Q1 revenue misses, Q2 outlook falls short
- Oil prices on track to snap two-week losing streak
- Rubrik (RBRK) Prices Upsized 23.5M Share IPO at $32/sh
- Union Pacific beats profit estimates on stronger pricing, resumes share buyback
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hertz Global (HTZ) misses earnings expectations as fleet costs weigh
- Teladoc (TDOC) Misses Q1 EPS by 3c, offers outlook
- After-hours movers: Alphabet, Microsoft, Snap, Intel, and more
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
Purple Innovation (PRPL) Tops Q1 EPS by 7c, Revenues Beat; Raises FY21 Revenues Mid-Point Guidance Above Consensus, 2Q Revs. View Above Consensus
May 17, 2021 7:05 AM EDTPurple Innovation (NASDAQ: PRPL) reported Q1 EPS of $0.17, $0.07 better than the analyst estimate of $0.10. Revenue for the quarter came in at $186.4 million versus the consensus estimate of $167.16 million.
First Quarter Financial Summary (Comparisons versus First Quarter 2020)1
Net revenue increased 52.3% to $186.4 million, compared to $122.4 million.Direct-to-Consumer (DTC) revenue increased 54.8%; Wholesale revenue increased 47.6%.Gross margin improved to 46.9% compared to 43.5%.Operating expenses as a percent of net revenue were 37.9% compared to 37.3%.Operating income increased 125.3% to $16.9 million compared to operating income of $7.5 million.Net income was $20.9... More