News

For the quarter ended March 2024, Sonos (SONO) reported revenue of $252.66 million, down 16.9% over the same period last year. EPS came in at -$0.34, compared to -$0.24 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $246.48 million, representing a surprise of +2.51%. The company delivered an EPS surprise of -25.93%, with the consensus EPS estimate being -$0.27.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Sonos performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue by Product Category- Sonos speakers: $187.26 million versus the two-analyst average estimate of $192.15 million. The reported number represents a year-over-year change of -22.4%.
• Revenue by Product Category- Partner products and other revenue: $16.14 million versus the two-analyst average estimate of $21.59 million. The reported number represents a year-over-year change of -14.6%.
• Revenue by Product Category- Sonos system products: $49.27 million compared to the $32.40 million average estimate based on two analysts. The reported number represents a change of +11.7% year over year.

View all Key Company Metrics for Sonos here>>>

Shares of Sonos have returned -1.2% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.