Shares of Sonos Inc (SONO) plummeted 5.01% in intraday trading on Wednesday following the release of the company's disappointing second-quarter financial results. The smart speaker manufacturer's stock took a hit as investors reacted to the unexpected loss reported by the company.

Sonos announced a Q2 revenue of USD 259.756 million, which failed to impress the market. More concerning was the company's operating income, which showed a substantial loss of USD 61.224 million for the quarter. This negative operating income indicates that Sonos is struggling with profitability, despite its revenue generation.

While the specific reasons for the poor performance were not detailed in the initial report, the significant loss suggests that Sonos may be facing challenges such as increased competition, supply chain issues, or higher operational costs. The market's negative reaction reflects growing concerns about the company's ability to maintain profitability in the competitive smart speaker and home audio market.