Sonos (SONO) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.84 per share a year ago.
Sonos announced that it has laid off 200 people in a letter posted to its site Wednesday. The news follows a 100-person layoff in August.
Will audio tech company Sonos soon have a new owner? If so, which tech giant will it be?
Sonos Chief Executive Patrick Spence is stepping down and leaving the company's board in a shake-up that comes as the wireless speaker maker tries to win back the trust of its customers.
Patrick Spence has stepped down as chief executive of Sonos (NASDAQ:SONO) following widespread issues with the company's new app, which launched last April. Intended to improve the user experience, the app faced immediate backlash over technical glitches and the removal of key features.
Speaker maker Sonos said on Monday Patrick Spence will step down as its CEO after a disastrous app update last year sparked customer criticism and delayed the development and release of other products.
Sonos (SONO) reported earnings 30 days ago. What's next for the stock?
SONO launches the Era 100 pro solution to transform professional audio installation in light-commercial and residential settings.
Sonos Inc (NASDAQ:SONO) stock is 5.3% higher at $14.83, earlier rising as high as $15.69 after the audio equipment maker's adjusted fourth-quarter loss of 18 cents per share was in line with estimates and revenue of $255.4 million beat analysts' beat forecasts.
SONO's Q4 revenues suffer due to delays in product launches amid setbacks with the new app rollout.
The speaker maker's holiday quarter forecast is lifting its stock, but fallout from last spring's app fiasco still lingers.
Sonos, Inc. (NASDAQ:SONO ) Q4 2024 Earnings Conference Call November 13, 2024 5:00 PM ET Company Participants James Baglanis - Head, Investor Relations & Treasury Patrick Spence - Chief Executive Officer Saori Casey - Chief Financial Officer Conference Call Participants Steve Frankel - Rosenblatt Brent Thill - Jefferies Erik Woodring - Morgan Stanley Alex Fuhrman - Craig-Hallum Capital Group Mark Cash - Raymond James Operator Thank you for standing by, and welcome to the Sonos Fourth Quarter 2024 Conference Call. All lines have been placed on mute to prevent any background noise.