Patrick Spence, president and CEO of Sonos, speaks during a Bloomberg Technology Television interview in San Francisco on Feb. 11, 2019.
Sonos shares rose over 12% in extended trading Tuesday after the speaker company reported fiscal 2024 first-quarter sales and earnings that exceeded Wall Street expectations.
Here's how Sonos did versus consensus expectations from LSEG, formerly Refinitiv:Earnings per share: 64 cents vs. 40 cents expectedRevenue: $613 million vs. $587 million expectedSales fell 9% from the same period last year.
Sonos reported $80.9 million in net income, or 64 cents per share, versus $75.2 million, or 57 cents per share, last year.
"Despite the challenging environment, we are winning in the market and outperforming the competition," Sonos CEO Patrick Spence said in a statement.
Persons:
Patrick Spence, Sonos, Bose, Spence
Organizations:
Sonos, Bloomberg Technology Television, Apple, Google
Locations:
San Francisco