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Why Sonos Stock Jumped on Thursday

TheMotleyFool

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Shares of Sonos (NASDAQ: SONO) were up 17% as of 1:02 p.m. ET on Thursday. The company delivered better-than-expected earnings results after the market close on Wednesday that sent the stock surging.

Over the last year, the stock lost around half its value in 2022 over slower revenue growth. Could 2023 be a better outing for the home audio brand?

Consumers had an appetite to buy new wireless speakers for their home. Revenue grew 1.2% year over year and is up 20% over the same quarter three years ago. This was slightly lower than the 2.2% growth reported for the previous quarter. Excluding currency changes, the top line would have grown by 7% over the year-ago quarter.

Source Fool.com

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