Sonos stock rallies 10% after quarterly beat, but audio maker says market conditions have not returned to ‘normal’

Sonos Inc.

shares zoomed more than 10% higher in the extended session Wednesday after the maker of audio and home-theater equipment reported better-than-expected revenue for its fiscal third quarter and tweaked guidance for fiscal 2023. Sonos lost $23.6 million, or 18 cents a share, in the quarter, compared with a loss of $597,000 last year, or breakeven on a per-share basis. Revenue rose 0.4% to $373.4 million, Sonos said.

shares zoomed more than 10% higher in the extended session Wednesday after the maker of audio and home-theater equipment reported better-than-expected revenue for its fiscal third quarter and tweaked guidance for fiscal 2023. Sonos lost $23.6 million, or 18 cents a share, in the quarter, compared with a loss of $597,000 last year, or breakeven on a per-share basis. Revenue rose 0.4% to $373.4 million, Sonos said.

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