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Sonos: Fiscal 4Q Earnings Snapshot

·1 min read

SANTA BARBARA, Calif. (AP) _ Sonos Inc. (SONO) on Wednesday reported fiscal fourth-quarter net income of $18.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Santa Barbara, California-based company said it had net income of 15 cents.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The maker of wireless speakers and home sound systems posted revenue of $339.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $298.2 million.

For the year, the company reported that its loss widened to $20.1 million, or 18 cents per share. Revenue was reported as $1.33 billion.

Sonos expects full-year revenue in the range of $1.44 billion to $1.5 billion.

Sonos shares have risen slightly more than 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.09, a climb of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SONO at https://www.zacks.com/ap/SONO