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Why Sonos Stock Jumped Today

TheMotleyFool

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Shares of Sonos (NASDAQ: SONO) have jumped today, up by 13% as of 12:39 p.m. EST, after the high-end audio specialist reported its fiscal first-quarter earnings results. Despite recent controversies, Sonos topped expectations for both the top and bottom lines.

Revenue in the fiscal first quarter jumped 13% to a record $562.1 million, easily crushing the consensus estimate of $545.5 million in sales. That translated into record net income of $71 million, or $0.60 per share, by the time it reached the bottom line. Analysts were modeling for just $0.48 per share in profits.

Sonos One SL. Image source: Sonos.

Source Fool.com

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