Sonos: losses widen, but message reassures

(CercleFinance.com) - On Wednesday evening, Sonos reported lower sales and deeper losses for its latest quarter, but the optimistic message delivered by its CEO seemed to reassure investors on Wall Street.


The audio technology specialist generated sales of $255.4 million in its fourth fiscal quarter to the end of September, compared with $305.1 million in the same period of 2023.

The manufacturer of wireless audio speakers, home theater systems and headphones consequently saw its net loss widen to $53 million, compared with -$31.2 million a year earlier.

Its CEO, Patrick Spence, was nevertheless positive about the launch of the new 'Arc Ultra' and 'Sub 4' ranges, released just before the Christmas period.

Initial feedback on these new products has been very positive, which - combined with the arrival of Ace earlier this year - means that our product portfolio has never been stronger", he said.

Listed on the New York Stock Exchange, Sonos shares rose by almost 3% on Thursday morning following the release of these figures.

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