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Investors need to refine their expectations for
His bone
.
SO NO 13.28%
Audience just a month away, the manufacturer of high-end wireless speakers released its first quarterly report Monday afternoon. This report was preceded by the strongest movement that the stock has achieved in its youth. Sonos shares closed the day up more than 13% to $ 21.64.
The report had little reason to justify such a push. The results for the fiscal year ended June 30 were in fact largely in line with the forecasts in the company's last deposit before listing in early August. Given that this filing took place on July 23, a few weeks after the end of the period, any other result would have been surprising.
Revenues fell by more than 6% from last year to $ 208.4 million, largely because of the difficult comparison with the launch of the Playbase TV soundbar year-round last. The net loss increased from $ 14.5 million to $ 27 million. Sonos shares fell quickly by 13% as a result of the report.
Top-of-the-line hardware sales tend to be erratic and summer is generally not the company's strongest season. The June quarter did not include the Beam, the company's new sound bar, which went on sale in mid-July. Nevertheless, Sonos said that device shipments grew more than 11% to 886,514 units, its Sonos One powered by
Amazon.com
"S
Alexa's voice-activated technology continues to sell well.
Sonos expects its revenue to grow by 12% over the same period of the year, reaching $ 1.1 billion for the year ending later this month. This is an acceleration from the company's 10% growth last year, but is also in line with Wall Street forecasts. Society is wise to set realistic goals at the door. Investors must also keep things real.
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