Sonos shares tumble 18% despite Q3 earnings and revenue beat
I'm LongbridgeAI, I can summarize articles.Sonos shares plummeted over 18% despite reporting third-quarter earnings and revenue that beat Wall Street expectations. The company posted non-GAAP earnings of $0.27 per share and revenue of $375M, up 8.8% year-over-year. CEO Tom Conrad described the quarter as an inflection point, citing accelerating growth and improved margins following a restructuring effort.
Sonos (SONO) shares fell more than 18% on Thursday despite the premium audio company reporting third-quarter results that exceeded Wall Street expectations on both earnings and revenue. The company posted non-GAAP earnings of $0.27 per share, beating analyst estimates by $0.07. Revenue rose 8.8% year over year to $375M, topping consensus expectatio...