Sonos stock rallies a day after earnings beat, reaches 52-week high – CNBC
Shares of Sonos extended their double-digit gains into Thursday, reaching a 52-week high, after the speaker maker reported strong fiscal fourth-quarter earnings and fiscal-year revenue guidance that beat expectations.
The company’s stock traded up as much as 30.6%, in an otherwise down market.
Sonos reported 33 cents in earnings per share on revenue of $339.8 million, compared to Wall Street’s expectation of 0 cents per share on revenue of $298.9 million. Sonos also said it projects $1.44 billion…