Shares of audio equipment specialist Sonos (NASDAQ: SONO) pumped up the volume Thursday morning, cranking out a 17.4% gain through 11:30 a.m. EST after the company reported earnings Wednesday night.
The consensus expectation of analysts was that Sonos would report $0.88 per share in adjusted earnings on just $590 million in sales. Instead, it said it earned $1.17 per share ( pro forma ) on sales of more than $645 million in its fiscal 2021 first quarter, which ended Jan. 2.
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Why Sonos Stock Investors Are Singing Its Praises Today