SANTA BARBARA, Calif. (AP) _ Sonos Inc. (SONO) on Wednesday reported fiscal second-quarter net income of $17.2 million, after reporting a loss in the same period a year earlier.
The Santa Barbara, California-based company said it had profit of 12 cents per share. Earnings, adjusted for non-recurring costs, were 31 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The maker of wireless speakers and home sound systems posted revenue of $332.9 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $251.5 million.
Sonos expects full-year revenue in the range of $1.63 billion to $1.68 billion.
Sonos shares have risen 44% since the beginning of the year. The stock has more than doubled in the last 12 months.
The Associated Press