Sonos Delivers Q2 Results Beat
2022.05.12 00:02
By Yasin Ebrahim
Investing.com — Sonos reported Wednesday fiscal second-quarter quarter results that topped Wall Street estimates even as margins were held back by rising cost pressures.
Sonos (NASDAQ:SONO) was up more than 16% in recent afterhours trading.
The company reported fiscal second-quarter EPS of $0.26, down from $0.31 a year earlier, but above analysts’ estimates for $0.04. Revenue rose to $399.8 million from $332.9 million a year earlier, topping forecasts of $352.6 million.
The beat on the bottom line comes even as margins slipped, pressured by rising costs amid ongoing supply-chain problems.
Gross margin decreased 500 basis points year-over-year to 44.8%.
Looking ahead, the company maintained its forecast for fiscal 2022 revenue in a range of $1.95 billion to $2 billion.
