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Sonos posts Q3 revenue beat, EPS miss

Sonos reported $249.3 million in revenue for Q3, topping the Street's estimates of $235.71M. However, the company missed EPS estimates, posting a loss of $0.13 compared to the expected $0.52 loss per share. Yahoo Finance’s Jared Blikre joins The Final Round panel to break down the details.

Video Transcript

- SONOS is out with results. The stock, though, down over 13% right now. Jared Blikre has more on this for us. Jared?

JARED BLIKRE: Yeah. A much wider loss than expected. Looking at a loss per share of, I believe, $0.52. And the estimate was for much less at $0.13.

Third quarter revenue coming in at $249.3 million. The estimate was for lower. So they beat-- the estimate was for $235.7 million.

But we are seeing their full year revenue expectation of $1.28 billion to $1.29 billion. Estimate was for a little bit lower. So exceeding on a few metrics there. But I think that cash crunch that they have-- that loss per share much wider. Probably what's weighing on shares there.

Looking at the stock, it's down 13% in the aftermarket. And we'll take a look at a longer term chart. It is up 80% over three months. It is a COVID play. But we're going to be testing, probably, the lower end of this box of consolidation that we have here, Sheana.

- Yeah. It's certainly an interesting move here, but over 13%. So I need to keep in mind as we look ahead to tomorrow's opening bell.