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Sonos, Inc. (SONO) Q1 2024 Earnings Call Transcript

The headline numbers for Sonos (SONO) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Sonos (SONO) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.57 per share a year ago.

Sonos shares rose after the speaker company reported first-quarter fiscal 2024 sales and earnings that exceeded Wall Street expectations.

Sonos (SONO) introduces 8" In-Ceiling speaker to expand its architectural line of passive speakers.

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Sonos, Inc. (Nasdaq: SONO) today announced that after market close on Tuesday, February 6, 2024 the company will report financial results for the first quarter ended December 30, 2023. The company will issue a press release and accompanying slide presentation at that time which will be accessible at https://investors.sonos.com/reports-and-filings/default.aspx#section=earningsreports. The company will host a conference call and Q&A to discuss the resul.

Sonos (SONO) reported earnings 30 days ago. What's next for the stock?

Sonos stock has remained flat for the year but has seen a 60% comeback since October. Positive fiscal Q4 results and positive guidance for FY24 have contributed to the stock's rally. Sonos is preparing to launch headphones for the first time, expanding its market scope and potentially driving growth.

Sonos (SONO) expects to generate more than $100 million from new product introductions in fiscal 2024.

Sonos (NASDAQ:SONO) plans to release high-end over-the-ear headphones as early as April which will be priced at more than $400, according to a report from Bloomberg. The company, best known for its smart speakers, is also reportedly working on smaller in-ear wireless earbuds and a streaming box for TV.