Sonos Inc. (SONO)
Sonos Will Survive This Transitional Period, But It Will Take Time
Shares of Sonos have continued to wobble after a very strong Q1 earnings print, reflecting investors' nervousness after the company's app update fiasco. The company achieved a strong earnings beat in Q1, with its revenue decline of -10% y/y landing much better than the -15% y/y that Wall Street had feared. The company is freshly cutting 12% of its workforce (after already laying off staff last August), aiming for $60-$70 million in annual savings that potentially turn around adjusted EBITDA this year.
Sonos' Q1 Earnings & Revenues Surpass Estimates, Down Y/Y
SONO reports better-than-expected fiscal first-quarter results. However, both the top and bottom lines decline year over year.
Sonos, Inc. (SONO) Q1 2025 Earnings Call Transcript
Sonos, Inc. (NASDAQ:SONO ) Q1 2025 Earnings Call February 6, 2025 4:15 PM ET Company Participants James Baglanis - Head, Investor Relations Tom Conrad - Interim Chief Executive Officer Saori Casey - Chief Financial Officer Eddie Lazarus - Chief Legal and Strategy Officer Conference Call Participants Steve Frankel - Rosenblatt Logan Katzman - Raymond James Erik Woodring - Morgan Stanley Alex Fuhrman - Craig Hallum Brent Thill - Jefferies Operator Thank you for standing by. My name is Jale, and I will be your conference operator today.
Why Sonos Stock Was Moving Higher Today
Shares of Sonos (SONO 5.19%), the maker of Bluetooth-enabled sound bars, speakers, and other audio equipment, were moving higher today after the company delivered better-than-expected results in its fiscal first-quarter earnings report. The company also said it would cut 12% of its workforce as part of an ongoing restructuring, as sales are still declining even as it beat estimates.
Sonos Beats Revenue Targets Despite Dip
Home audio solutions specialist Sonos (SONO 8.77%)reported fiscal 2025 first-quarter earnings on Thursday, Feb. 6, that exceeded analysts' consensus estimates. Adjusted earnings per share (EPS) of $0.64 beat the estimated $0.30 while Q1 revenue reached $551 million, outdoing the expected $519 million.
Here's What Key Metrics Tell Us About Sonos (SONO) Q1 Earnings
The headline numbers for Sonos (SONO) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Sonos (SONO) Q1 Earnings and Revenues Top Estimates
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 lays off 200 ahead of rumored set-top box release
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.
If Sonos' Board Sells, Will Apple Be the Buyer?
Will audio tech company Sonos soon have a new owner? If so, which tech giant will it be?
Sonos CEO to step down after disastrous app overhaul
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.
Sonos CEO steps down after app launch fallout
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.
Sonos CEO Patrick Spence steps down after app update debacle
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.
