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Why Sonos Stock Popped Today

TheMotleyFool

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Shares of Sonos (NASDAQ: SONO) popped by as much as 13% this morning after the company reported fiscal third-quarter earnings. The results topped expectations and Sonos raised its guidance for the fiscal year. As of 11:15 a.m. EDT, the stock had given back some of those gains but was still up 5%.

Revenue in the fiscal third quarter increased 52% to $378.7 million, ahead of the consensus estimate of $315.2 million. That resulted in adjusted earnings per share of $0.27, which was much better than the $0.06 per share that Wall Street expected the audio technology company to lose on an adjusted basis.

Image source: Sonos.

Source Fool.com

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