Sonos shares fall on fiscal Q2 report and memory cost outlook

12 articles · Updated · The Wall Street Journal · May 5

The stock dropped about 6% on Tuesday after the premium speaker maker reported March-quarter revenue up more than 8%, beating Wall Street estimates.
Sonos said memory cost inflation would build through its fiscal year ending in September, with analysts expecting fourth-quarter gross margin near 43%, three percentage points below the latest quarter.
Chief executive Tom Conrad said the new Play portable speaker had a strong early reception and the company was trying to reduce memory needs as the broader chip shortage persists.

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