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Sonos fiscal Q4 results top estimates, full-year guidance in-line

By Yasin Ebrahim

Investing.com -- Sonos reported Wednesday fiscal fourth-quarter results that topped Wall Street estimates as demand stabilized in the fourth quarter despite a "significantly" more challenging macroeconomic backdrop.  

Sonos Inc (NASDAQ:SONO) was up more than 1% in recent afterhours trading.

The wireless home sound system maker reported a fiscal fourth-quarter loss of $0.32 on revenue of $316.3 million. Analysts polled by Investing.com anticipated EPS of $-0.43 on revenue of $306.13M.

The narrower loss comes even as rising costs hurt margins. 

Gross margins decreased 720 basis points year-over-year to 39.2%.

Looking ahead, the company forecast fiscal 2023 revenue in a range of $1.70 billion to $1.80 billion, in-line with analysts' estimates of $1.73B. 

The company also announced a new common stock repurchase program of up to $100M.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.