Sonos reports Q1 EPS 64c, consensus 30c

Reports Q1 revenue $551M, consensus $519.47M. GAAP net income of $50.2M…Adjusted EBITDA of $91.2M…”Yesterday we implemented important organizational changes that mark the start of a new chapter of efficiency and growth for Sonos (SONO),” said Tom Conrad, Sonos Interim CEO. “I see tremendous opportunity in front of us. The team and I are hard at work improving the core experience for our customers while designing the next set of Sonos products and innovations. It’s an honor to show up every day to do this work with the talented Sonos team.” “Our Q1 results show our team’s commitment to execution as we navigate a difficult environment,” commented Saori Casey, Sonos Chief Financial Officer. “We continue to make great progress in our transformation journey that will set us up well for the future.”