RTTNews | Aug 10, 2021 11:21AM EDT

11:21 Tuesday, August 10, 2021 (RTTNews.com) - New York-based furniture company Casper Sleep Inc. (CSPR) is trading 18% lower on Tuesday after the company's loss widened in the second quarter.

The net loss for the company increased to $33.74 million or $0.81 loss per share from $24.20 million or $0.61 loss per share last year. Eight analysts polled by Thomson Reuters estimated the loss to be $0.34 for the quarter.

However, revenue increased 44% to $151.75 million from $110.19 million last year chiefly due to a 79% increase in retail partnership to $52.20 million. Seven analysts expected revenue to be $151.28 million.

For the next quarter, the company expects a loss between $22.6 million and $19.6 million with a revenue of $152 million to $159 million. Street view for the revenue is $156.01 million.

The company projected a $580 million to $610 million revenue for the full year. The analysts expect the revenue to be $609.35 million.

The shares are currently trading at $5.68, down $1.24 or 17.99% from their previous close at $6.92. the shares opened at $6.41 and in the 52-week period, the shares have ranged between $5.53 and $12.00.

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