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Sonos shares dip after strong quarter

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  • SONO

Yahoo Finance Live's Brian Sozzi and Julie Hyman review the dip in Sonos shares after a strong quarter, as well as the prominent issue current and future supply chain bottlenecks may pose.

Video Transcript

JULIE HYMAN: Maybe this next one is a better one to buy you a holiday gift from. Sonos, finally that got me coming out with numbers as well. We saw the stock kind of bounce around in the pre-market, as you see that earnings per share number and revenue number both missing by a bit. The shares are down by 2%. What's going on here in Sonos? This-- this has been one that's been pretty consistently killing it but it's been wavering more lately.

BRIAN SOZZI: This is to follow after that last one but--

JULIE HYMAN: All right.

BRIAN SOZZI: --Julia, the conference call and pride a lot of details so I'm, I'm looking forward to talking to a friend of the network, Patrick Spence, the CEO of Sonos, a little later on around noon-- noonish a little more about what the company is working on next year. But all in all, a good quarter here coming out with some pretty-- some guidance that was ahead of where analysts were thinking here.

But another company, Julie that is still dealing with supply chain bottlenecks, chip supply shortages here. And you got the sense coming off this quarter that they should-- their sales and results would probably be a lot better if they weren't dealing with those things, which ultimately raises the situation that perhaps in 2022 they'll probably go back to their more historical growth rates.

JULIE HYMAN: Well, you're going to talk to CEOs Patrick spends a little bit later in the day. So it'll be interesting to hear what he says about all of these issues.