Shares of Sonos (NASDAQ: SONO) have jumped today, up by 13% as of 12:39 p.m. EST, after the high-end audio specialist reported its fiscal first-quarter earnings results. Despite recent controversies, Sonos topped expectations for both the top and bottom lines.
Revenue in the fiscal first quarter jumped 13% to a record $562.1 million, easily crushing the consensus estimate of $545.5 million in sales. That translated into record net income of $71 million, or $0.60 per share, by the time it reached the bottom line. Analysts were modeling for just $0.48 per share in profits.
Sonos One SL. Image source: Sonos.
Source Fool.com