Sonos shares rise in earnings after Q1 profits increased.

Sonos shares rose by 12% following an increase in the company's profits during the fiscal first quarter. Despite a drop in sales, Sonos experienced improvements in gross margin and net income, leading to an after-hours stock increase of 13% subsequently. The company's stock has also grown by more than 52% in the past three months. The financial results of the quarter were revealed amidst a challenging market environment.

February 06, 2024
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