Sonos reported adjusted earnings of $1.17 per share, above the $0.98 FactSet consensus. Revenue rose 14.8% to $645.6 million from $562 million in the year-ago period. Analysts at FactSet had projected a revenue target of $590 million.
“Despite all of the challenges of the pandemic, our team rose to the occasion and delivered the best quarter in our 18-year history. We welcomed a record number of new customers while a record number of existing customers returned to add additional products to their system. Based on our outstanding first-quarter performance, the momentum in our business, the exciting products we have planned for the future, and the power and profitability of our unique business model, we are raising our outlook for fiscal 2021," CEO Patrick Spence said in a statement.
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