Sonos Reports Smaller-Than-Expected Loss Despite Revenue Decline
Sonos (NASDAQ:SONO) delivered fourth-quarter results that exceeded analyst expectations, despite ongoing challenges in the audio market.
For the quarter, Sonos reported an adjusted loss of $0.18 per share, significantly better than the anticipated $0.39 loss. Revenue reached $255.38 million, beating the consensus estimate of $249.64 million. However, sales reflected a 16.3% year-over-year decline from $305.15 million in the same period last year, highlighting continued headwinds in the audio category.
For the full fiscal year 2024, the company posted revenue of $1.52 billion, an 8.3% drop compared to $1.66 billion in fiscal 2023. Despite the decline, Sonos reported an adjusted profit of $0.56 per share for the year.
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