Those Paying for Streaming Music Rising, Sonos CEO Says After Quarterly Results; Stock Up
The 175 million people who pay for streaming music today will rise to 300 million, amid more listening on the go, said Sonos CEO Patrick Spence Thursday, reporting quarterly results. Sonos has a three-year road map including “several products that…
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take us outside the home,” he said. The company's core products haven’t been affected by tariffs, though a few accessories felt minimal impact, the chief said. “We definitely do not believe that tariffs are a sound long-term economic policy.” The company is considering doing “something on the price front, if we had to,” he said. Revenue grew 27 percent to $273 million in the period ended Sept. 29 from the year-ago quarter. Net loss narrowed to $1.8 million from $15 million. The stock closed up 9 percent Friday at $15.44.