Why Sonos Is Soaring Today
Sonos (NASDAQ: SONO) shares are up 15.8% as of 1:34 p.m. ET on Thursday, following the release of second-quarter results that came in better than expected on Wednesday.
For the three-month stretch ending in March, consumer technology outfit Sonos turned $399.8 million worth of revenue into operating earnings of $0.26 per share. Both figures came in better than analysts' expecations for a top line of $351.7 million and a bottom line of $0.17 per share, according to Bloomberg. Revenue grew 20.1% year over year, and while operating income slipped 16% from the year-earlier profit of $0.31 per share, investors were forgiving of the impact that rampant inflation has had on the company.
Guidance helped, as did the debut of a new smart speaker of its own.
Source Fool.com
