Sonos Shares Rise 9% on 1Q Profit, Revenue Beats

Dow Jones

02-06

By Chris Wack

Sonos shares were up 9% to $15.49 after the company reported first-quarter earnings that beat analysts' expectations Thursday.

The audio technology company said its quarterly net income fell to $50.2 million, or 40 cents a share, from $80.9 million, or 64 cents a share, in the prior-year period. Analysts polled by FactSet were looking for $16.6 million, or 17 cents a share.

Revenue for the quarter was $550.9 million, compared with last year's $612.9 million and the $519.8 million analysts were expecting.

Adjusted earnings were 64 cents a share, compared with the 30 cents a share analysts had forecast.

On Wednesday, the Santa Barbara, Ca., company said it was reducing the total size of its workforce by around 12% to cut costs, and it expects to book restructuring charges of $15 million to $18 million.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

February 06, 2025 10:07 ET (15:07 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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