Why Sonos Stock Is Trading Higher After Hours
Portfolio Pulse from Adam Eckert
Sonos Inc's Q2 financial results exceeded expectations, with revenues of $373.36 million and an EPS of 16 cents, beating estimates of $334.24 million and a loss of 20 cents respectively. Despite a challenging environment, the company is outperforming the competition and remains on track to meet its fiscal 2023 guidance. However, the company's gross margin fell 130 basis points to 46%, and free cash flow was negative $7.8 million. Sonos shares were up 10.7% after hours.
August 09, 2023 | 8:47 pm
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Sonos Inc's better-than-expected Q2 results and positive outlook for fiscal 2023 could boost investor confidence, potentially driving the stock price up in the short term.
Sonos Inc's Q2 results exceeded expectations, which is typically a positive signal to investors and can lead to an increase in stock price. The company's positive outlook for fiscal 2023 could further boost investor confidence. However, the decrease in gross margin and negative free cash flow could be areas of concern.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100