SANTA BARBARA, Calif. (AP) _ Sonos Inc. (SONO) on Wednesday reported a loss of $14 million in its fiscal third quarter.
The Santa Barbara, California-based company said it had a loss of 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The maker of wireless speakers and home sound systems posted revenue of $260.1 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $243 million.
Sonos expects full-year revenue in the range of $1.25 billion to $1.26 billion.
Sonos shares have risen 3.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.16, a decline of 47% in the last 12 months.