The Ratings Game: Sonos offers teaser for new line of products as shares rocket 10%

Better-than-expected earnings and a teaser for a new product line sent shares of high-end speaker maker Sonos Inc. up 10% on Friday.

The company, which reported quarterly earnings late Thursday for the second time since going public, posted a smaller-than-expected loss and revenue that was about 10% higher than expected. Revenue was boosted by a strong launch for its Beam soundbar, a voice-enabled, smart speaker and music speaker that can enhance the sound quality of TVs. The Beam hit the market in July.

“Beam has and continues to exceed our expectations,” Chief Executive Patrick Spence told analysts on the company’s earnings call, according to a FactSet transcript.

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