: Sleep Number stock rallies 10% on earnings beat, outlook

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Sleep Number Corp. SNBR shares rallied in the extended session Wednesday after the smart bed company’s earnings and outlook topped Wall Street estimates. Sleep Number shares surged 10% after hours, following a 2.4% decline in the regular session to close at $58.17. The company reported third-quarter net income of $51.3 million, or $1.79 a share, compared with $28.1 million, or 94 cents a share, in the year-ago period. Revenue rose to $531.2 million from $474.8 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.06 a share on revenue of $523.5 million. Sleep Number expects full-year earnings of about $4 a share, while analysts had forecast $2.89 a share.
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