Sonos stock rises after positive earnings report
Yahoo Finance's Jared Blikre breaks down Sonos earnings after Wednesday's closing bell.
Video transcript
ADAM SHAPIRO: All right, everybody take a pause. We got Jared Blikre because Sonos is out with their earnings. Jared, I don't know if you can see it. I got a Sonos speaker right behind me.
JARED BLIKRE: I heard it, Adam. And that's what I assumed it was. Let me tell you something. Sonos stock is up 10% after hours, but it was down 9% today, so clawing back some of those losses. Good news for those investors. And here's the numbers. They boosted their year forecasts. They are now saying adjusted EBITDA at $225 million to $250 million. Previously, it was 195 to 225, so a real nice bump up by about 30 to-- $25 to $30 million there.
Second quarter results, EPS came in at $0.12 per share, and that is a profit. So that's good news. Last year was a loss per share of $0.48. Revenue beating estimates, coming at $332.9 million. That's up from 90-- that's up 90% from a year ago and handily beating the estimate of $248.3 million. And then adjusted EBITDA of 48.5 million versus a loss of 28.4 million.
We'll take a look at a chart here. They did kind of break down recently. And again, today, before the report, you can see we had this kind of neckline here. And we did get below that yesterday. This chart almost looks pretty similar to the NASDAQ, so interesting development there. But you can see over the last year, really benefiting from the COVID trade. They are still up over 231%, so beating on revenue and boosting their full year guidance, really leading investors to an ebullient stage right now after a tough day earlier.
