Sonos (NASDAQ:SONO) is seeing its stock continue to rise on Thursday after releasing its earnings report for Q4 2020 yesterday. This comes after reporting adjusted earnings per share of 33 cents on revenue of $339.84 million. Both of these are better than Wall Street’s estimates of flat EPS and revenue of $298.9 million.
Here’s what else investors in Sonos stock need to know about the earnings report.
- Adjusted per-share earnings are a positive switch from adjusted losses per share of 15 cents in the fourth quarter of 2019.
- Revenue for the quarter comes in 16% higher than the $294.16 million reported during the same time last year.
- Operating income of $15.43 million is much better year-over-year than an operating loss of $24.83 million last year.
- The Sonos earnings report also has net income coming in at $18.41 million. That’s a major improvement over its net loss of $29.6 million from the same period of the year prior.
Patrick Spence, CEO of Sonos, said this about the news boosting the stock:
“Fiscal 2020 was the 15th year in a row we grew total households by at least 20%, while our existing customers once again showed strong repurchase habits, accounting for a record 41% of total product registrations.”
Sonos also includes guidance in its current earnings report. It’s expecting revenue for fiscal 2021 to range from $1.44 billion to $1.5 billion. That’s looking good for SONO stock next to Wall Street’s revenue estimate of $1.38 billion.
SONO stock was up 25.4% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.