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Purple Innovation: 3Q Earnings Snapshot

·1 min read

LEHI, Utah (AP) _ Purple Innovation, Inc. (PRPL) on Tuesday reported a third-quarter loss of $1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Lehi, Utah-based company said it had a loss of 2 cents. Earnings, adjusted for non-recurring costs, came to 27 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The company posted revenue of $187.1 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $176.5 million.

Purple Innovation shares have nearly tripled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.37, more than tripling 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 PRPL at https://www.zacks.com/ap/PRPL