Shares of Sonos Inc. SONO, -22.03% are down 17% in premarket trading Tuesday, after the maker of smart speakers reported in-line results for its latest quarter. Sonos shares had gained more than 13% in Monday's session leading up to the report, Sonos' first as a public company. Jefferies analyst Brent Thill wrote that he was encouraged by the company's success with its direct-to-consumer strategy as well as the company's introduction of a second distribution center that will help get products out faster. However, he said that the new Sonos Beam is performing "in line" with expectations. "While being judged against raised internal expectations we would like to see a big product launch such as the Beam performing above expectations," he said. Thill also doubts that the new Sonos Amp, expected out early next year, will be a major contributor to revenue growth. Sonos went public in early August.
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