Sonos Sounds Good After Earnings Beat
Sonos (NASDAQ: SONO) blasted past internal targets and analyst expectations as first-quarter sales surged 13% to $562 million, generating a 29% gain in earnings before interest, taxes, depreciation, and amortization (EBITDA) for a total of $113 million.
Wall Street had only been looking for sales of $546 million and profits of $0.48 per share compared to the $0.60 per share Sonos posted. But the first-quarter results were also well ahead of management's stated long-term goals of 10% revenue growth and 20% adjusted EBITDA gains.
What may have been more surprising is that Sonos left its outlook unchanged for 2020, which the market has seemingly shrugged off since the stock soared 12% on the results. It's finally trading above its IPO price once again.
Source Fool.com
