Sonos Raises 2021 Revenue Forecast After Posting Impressive Quarterly Earnings
Buoyed by quarterly earnings that far surpassed estimates, and healthy pre-orders of its new Roam portable speaker, Sonos Inc has readjusted its 2021 revenue forecast.
For the quarter that ended April 3, the company generated US$332.9 million in sales, dwarfing estimates of US$248.3 million. It has since adjusted its estimated revenue to between $1.625-$1.675 billion, up $100 million.
Stock in the company rose roughly 20 per cent after this forecast.
“As the world reopens, I think Roam is going to be the perfect product,” Spence said.