Why Sonos Stock Is Surging After Hours

Sonos Inc SONO shares are trading higher in Wednesday's after-hours session after the company announced better-than-expected financial results.

Sonos said fiscal second-quarter revenue increased 20.1% year-over-year to $399.8 million, which beat the $352.84 million estimate, according to data from Benzinga Pro. The company reported a quarterly adjusted earnings of 26 cents per share, which beat the estimate of 7 cents per share.

"While the world remains unpredictable, we remain confident that we can deliver another record-setting year in Fiscal 2022," said Patrick Spence, CEO of Sonos.

Sonos maintained its full-year 2022 revenue outlook. The company expects full-year revenue to be in the range of $1.95 billion and $2 billion versus the $1.97 billion estimate. Adjusted EBITDA is expected to be between $290 million and $310 million, which was narrowed from previously issued guidance of $290 million to $325 million.

SONO 52-Week Range: $19.72 - $42.57

The stock was up 19% in after-hours at $22.62 at press time.

Photo: courtesy of Sonos.

Posted In: Patrick Spencewhy it's movingEarningsNewsMoversTrading Ideas

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