Sonos Inc. (NASDAQ: SONO), an audio electronics company, reported its second-quarter fiscal year 2021 earnings last week. Sales of the company’s products have continued to grow and are expected to remain high throughout the year. SONO’s share was auctioned on May 14 and valued at $ 33.88.

Sonos reported $ 333 million in sales last quarter, up 90 percent over the same period in the previous year. Sonos’s performance is being fueled by strong demand in the home entertainment market. Therefore, the company reported adjusted earnings of $0.31 per share rather than a loss, exceeding Wall Street’s expectations. Immediately following its publication, the report’s positive findings caused the price of SONO to rise by more than 7.4%.

The company wants to continue increasing sales and take 7 % of the worldwide premium home audio market. As part of this process, Sonos is creating new products in various segments and establishing a seamless ecosystem that doesn’t require additional configuration with different Sonos products. The company’s revenue forecast for 2021 increased from $ 1.55 billion to $ 1.65 billion.

A proliferation of Internet TV and small-screen movie premieres provides an opportunity for Sonos to increase home video viewing. In response, home theaters and other equipment that enhance audiovisual perception are becoming increasingly popular. Moreover, audio content such as podcasts, interviews, and others is gaining in popularity. They’re responsible for driving Sonos. By the end of fiscal 2020, approximately 9% of the 116 million high-end households were installed with Sonos systems.

Sonos Inc. (SONO) gained 0.71% in after-market trading on Friday, closing at $34.12. The stock of SONO advanced 0.15% to close at $33.88 during the last trading session. The stocks of the company ranged between $33.19 and $34.78. Within 100 days, 3.62 million more shares were traded than the average daily volume of 2.95 million. During the last five days, SONO stock has lost -9.85%, while it has lost -22.81% over the last month. Furthermore, its price-to-earnings ratio stands at 37.44, and its price-to-book ratio is 7.13. In addition, the price-to-cash flow ratio was 14.71.

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