Sonos Upbeat Earnings Report Is Music To Wall Street's Ears [Investor's Business Daily]
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Source: Investors Business Daily
Related news Premium sound system maker Sonos ( SONO ) got toes tapping with the upbeat tempo of its September-quarter earnings report. Sonos stock jumped Friday on the news. The Santa Barbara, Calif.-based company late Thursday said it lost 2 cents a share on sales of $272.9 million in its fiscal fourth quarter ended Sept. 29. Analysts polled by Zacks Investment Research expected the Sonos earnings report to show a loss of 8 cents a share on sales of $249 million. For the December quarter, Sonos predicted sales of $490 million vs. the Zacks estimate of $470 million. Sonos stock rose 9% to 15.44 on the stock market today . The consumer electronics firm went public on Aug. 2 at 15 a share. Sonos stock hit a record high of 23.60 on its second day of trading. Sonos credited strong September-quarter results to its recently launched Sonos Beam soundbar. The product is a voice-enabled smart speaker, music sound system and TV speaker. "Sonos' new Beam soundbar product appears to have good in
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