Sonos Pulls Back Off Best Levels But Remains Firmly Positive

(RTTNews) - Shares of Sonos, Inc. (SONO) have pulled back off their best levels of the day but continue to see considerable strength in late-day trading on Friday. After reaching a two-month intraday high, Sonos is currently up by 8.8 percent.

Sonos gapped open sharply higher after the electronics maker reported a narrower than expected fiscal fourth quarter loss on revenues that beat expectations. The company also provided upbeat revenue guidance.

The company reported a fourth quarter loss of $0.02 per share on revenues of $272.9 million, while analysts had expected a loss of $0.06 per share on revenues of $248.6 million.