SANTA BARBARA, Calif. (AP) _ Sonos Inc. (SONO) on Wednesday reported a loss of $52.3 million in its fiscal second quarter.
On a per-share basis, the Santa Barbara, California-based company said it had a loss of 48 cents.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
The maker of wireless speakers and home sound systems posted revenue of $175.1 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $211.9 million.
Sonos shares have decreased 36% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.05, a decrease of 11% in the last 12 months.