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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biggest Movers: SHIB 10% Higher on Wednesday, SOL Records 10-Day High – Market Updates Bitcoin NewsShiba inu rose by as much as 10% during today’s session, as bullish sentiment returned to cryptocurrency markets.
Source: BTCTN - 🏆 531. / 51 Read more »

Stock market news today: Dow drops as Moody's downgrades 10 banksUS stocks opened lower on Tuesday, with the Dow shedding almost 300 points as investors assess Moody's downgrade of 10 small and mid-sized US banks. Moody's slashed the credit ratings on the banks on Monday, while also placing several other larger firms under review including Bank of New York Mellon, US Bankcorp, Northern Trust, and State Street.
Source: BusinessInsider - 🏆 729. / 51 Read more »