LEHI, Utah (AP) — LEHI, Utah (AP) — Purple Innovation, Inc. (PRPL) on Tuesday reported a loss of $50.2 million in its first quarter.
On a per-share basis, the Lehi, Utah-based company said it had a loss of 47 cents. Losses, adjusted for non-recurring costs, came to 19 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The company posted revenue of $120 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $122.2 million.
Purple Innovation expects full-year revenue in the range of $540 million to $560 million.
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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 PRPL at https://www.zacks.com/ap/PRPL
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