Sonos 4Q Revenue Climbs 20% on New Product Launches

Dow Jones05:34

Sonos' revenue soared in its latest quarter following the launch of five new products this year, including the company's Sonos 27 operating system.

The audio equipment manufacturer on Tuesday logged a fourth-quarter loss of $5.2 million, or 4 cents a share, compared with a loss of $37.9 million, or 31 cents a share, the year before.

Adjusted earnings per share were 4 cents.

Revenue climbed 20% to $344.4 million.

Chief Executive Tom Conrad said Sonos grew in every region this year. Chief Financial Officer Saori Casey added that the company delivered higher profits while absorbing $56 million in higher memory costs.

Sonos on Tuesday also said its board of directors authorized a stock repurchase program of up to $150 million.

Shares fell 2.3% in late trading to $16.50.

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