Sonos (SONO), a maker of high-end music and television speakers, late Wednesday shattered Wall Street’s targets for holiday quarter. The earnings news drove Sonos stock higher in extended trading.
The Santa Barbara, Calif.-based company earned an adjusted $1.17 a share on sales of $645.6 million in its fiscal first quarter ended Jan. 2. Analysts expected Sonos earnings of 88 cents a share on sales of $589.9 million. In the year-earlier period, Sonos earnings were an adjusted 74 cents a share on sales of $562.1 million.
In after-hours trading on the stock market today, Sonos stock jumped 11.8%, near 35.20. During the regular session, Sonos stock fell 2.3% to 31.50. Earlier in the session, Sonos stock hit a record high of 32.88.
More details on the earnings report to follow.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
YOU MAY ALSO LIKE: