HomeWorld NewsUS NewsSonos plunges after first earnings report as public company

Sonos plunges after first earnings report as public company

Sonos plunges after first earnings report as public company

Sonos stock fell as much as 13 percent in extended hours, nearly erasing a trading-day gain of 13 percent, after the company reported earnings for the third quarter of its 2018 fiscal year, which ended on June 30. The company will hold a conference call with analysts at 5 p.m. Eastern time.

Here’s how the company did its its first earnings report:

  • Earnings: Loss of 45 cents per share.
  • Revenue: $208.4 million, vs. $208 million as expected by analysts, according to Thomson Reuters.

Revenue was down 6 percent year over year, according to a statement.

The company also provided guidance for its full 2018 fiscal year. It’s expecting to report $1.09 to $1.11 billion in revenue for that period. The FactSet analyst consensus was $1.11 billion.

Sonos went public last month. Shares are up 32 percent from their initial price of $16.




More Related Articles

Sign up to receive awesome contents in your inbox, everyday in the morning.

We don’t spam! Read our privacy policy for more info.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We use cookies to ensure that we give you the best experience on our website.