12.21 -0.05 (-0.41%)
After hours: 4:57PM EST
|Bid||12.18 x 1300|
|Ask||12.24 x 800|
|Day's Range||11.99 - 12.34|
|52 Week Range||9.62 - 16.88|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||299.02|
|Earnings Date||Feb 04, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.00|
Sonos, Inc. (Nasdaq: SONO) today announced that Chief Financial Officer Brittany Bagley will participate in the Goldman Sachs Technology and Internet Conference in San Francisco on Wednesday, February 12. Brittany will participate in a Q&A session beginning at 9:00 am Pacific Standard Time.
WASHINGTON/SAN FRANCISCO (Reuters) - The U.S. International Trade Commission said on Thursday it was launching a patent investigation into certain audio players and controllers sold by Alphabet Inc's Google based on a complaint by rival smart speaker maker Sonos Inc . The ITC received a complaint from Sonos last month alleging that the import of certain audio players and controllers and their components infringe on its patents. Sonos at the time also filed a patent infringement lawsuit against Google in U.S. District Court in Los Angeles and testified to a House of Representatives antitrust subcommittee about its frustrations with Google.
Sonos Inc. had a stronger-than-expected holiday quarter fueled by new products like a portable speaker and a partnership with IKEA.
Sonos (SONO) delivered earnings and revenue surprises of 27.66% and 3.73%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Sonos (SONO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Daily Crunch is TechCrunch's roundup of our biggest and most important stories. CEO David Solomon told CNBC that beginning this year, Goldman will no longer take companies public if they don’t have at least one “diverse” member on its board of directors.
Smart speaker manufacturer Sonos clarified its stance when it comes to old devices that are no longer supported. Sonos now says that you’ll be able to create two separate Sonos systems so that your newer devices stay up to date. If you use a Zone Player, Connect, first-generation Play:5, CR200, Bridge or pre-2015 Connect:Amp, Sonos is still going to drop support for those devices.
(Bloomberg) -- Sonos Inc. Chief Executive Officer Patrick Spence apologized to customers after a backlash over the company’s plan to halt software updates for older products.The Santa Barbara, California-based speaker maker earlier this week said it would stop providing updates and new features for speakers launched in the 2000s, including the Connect, ZonePlayer, the original Play:5 and Bridge.The company warned that even if customers only had one older speaker, their entire Sonos sound systems might lose access to services and functionality would “eventually be disrupted.” It also suggested users buy new speakers with a 30% credit for each legacy device traded in. Sonos devotees quickly went berserk on social media, accusing the company of purposely degrading existing hardware to spur new sales.“I have over 1000USD of *speakers* that must be retired now? Terrible product life cycle support,” Scott Jenson, a longtime Google executive, wrote on Twitter. “I clearly have no choice to upgrade but I’m certainly NOT going to trust my money with Sonos ever again.”In a statement Thursday, Sonos didn’t reverse the decision to nix software updates in May, but pledged to keep older speakers “updated with bug fixes and security patches for as long as possible.” The company also said it would “work to offer an alternative solution” to major issues that can’t be addressed.“We heard you. We did not get this right from the start. My apologies for that and I wanted to personally assure you of the path forward,” Spence wrote in a letter posted on Sonos’s blog. “First, rest assured that come May, when we end new software updates for our legacy products, they will continue to work as they do today. We are not bricking them, we are not forcing them into obsolescence, and we are not taking anything away.”Sonos’s original announcement suggested that legacy products would eventually stop working with newer speakers. On Thursday, the company said that would no longer be the case. “We are working on a way to split your system so that modern products work together and get the latest features, while legacy products work together and remain in their current state,” Spence wrote. Jenson applauded the response on Twitter Despite the backlash, it’s common for technology companies to cut off software updates for older devices. Apple Inc.’s latest iOS operating system doesn’t support iPhones sold before 2015 and iPads made before 2014. That spurs millions of people to spend hundreds of dollars buying new handsets.Apple’s Lower Prices, Users’ Aging Handsets Drive IPhone DemandSonos is under pressure from larger rivals including Apple, Amazon.com Inc. and Google, which sell internet-connected speakers with digital assistants built in. Sonos sued Google recently, accusing the tech giant of ripping off its designs.Spence testified at a Congressional antitrust hearing this month and argued that Sonos was different from larger rivals because it supports products for many years. “Our business model is simple — we sell products which people pay for once, and we make them better over time with software updates,” Spence said.Some users on Twitter quickly contrasted that statement with this week’s decision to end software updates on many speakers.To contact the reporter on this story: Mark Gurman in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Alistair Barr at email@example.com, Jillian WardFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Hours after the company made the announcement https://blog.sonos.com/en/end-of-software-updates-for-legacy-products on Tuesday, customers went on Twitter using the trending hashtag #SonosBoycott and tagging the company's chief executive officer, Patrick Spence, with their questions. Customers received an email from Sonos saying the company would no longer support some models launched between 2006 and 2009 after May. Sonos gave customers the option to either continue using the products without any new updates and features in the future or buy a new Sonos product with a 30% credit for each product replaced.
Smart speaker manufacturer Sonos has announced that the company is going to drop support for some of its products. Sonos stopped selling these devices a few years ago. It means that some people are still happily using old Sonos devices even though production has stopped since then.
(Bloomberg) -- Sonos Inc. Chief Executive Officer Patrick Spence accused Alphabet Inc.’s Google and Amazon.com Inc. of using their market power to thwart competition a week after filing a lawsuit against the world’s largest search engine.“Today’s dominant companies have so much power across such a broad array of markets and continue to leverage that power to expand into new markets that we need to rethink existing laws and policies,” said Spence Friday at a congressional antitrust hearing in Boulder, Colorado, led by Representative David Cicilline, the Rhode Island Democrat who is investigating competition in the technology sector.Sonos, a 1,500-person company, sued Google Jan. 7 for allegedly infringing five patents covering multi-room audio technology. Spence said Google’s dominance enabled it to violate the speaker company’s intellectual property. He said that Google tries to prevent customers from using its voice assistants alongside another company’s on Sonos speakers. While Amazon doesn’t go that far, he said, it has used its power to “to subsidize the conquest” of the booming smart-speaker market, particularly by under-pricing its offerings.Sonos has worked with the committee since before it decided to file the lawsuit, according to a person familiar with the discussions. It has also responded to questions that the committee sent to customers of the large technology platforms.Google has disputed Sonos’ claims and said it will defend itself. The search giant, which faces antitrust probes by 48 state attorneys general as well as the U.S. Justice Department, says it faces robust competition. Cicilline is using the hearing to air grievances by smaller companies, following a series of Washington meetings that focused on the tech giants.“It is apparent that the dominant platforms are increasingly using their gatekeeper power in abusive and coercive ways,” Cicilline said in his opening statement.The panel also heard from David Barnett, the founder of Boulder-based PopSockets, which makes phone holders and stands. He alleged that Amazon frequently engaged in “bullying,” including deliberately selling counterfeits, threatening to go to unauthorized resellers and dropping prices without consulting. “We have $10 million less to innovate this year” because of PopSockets’s decision to end its relationship with Amazon even though it’s more difficult to sell elsewhere, Barnett said.“It seems like Amazon is so dominant that there is no alternative,” said Representative Ken Buck, a Colorado Republican on the committee.Amazon said in a statement that PopSockets is a “valued retail vendor” and added: “We’ve continued to work with PopSockets to address our shared concerns about counterfeit, and continue to have a relationship with PopSockets through Merch by Amazon, which enables other sellers to create customized PopSockets for sale.”The company said it refuses to work with some resellers to ensure low prices, and rejects the notion that it’s dominant, saying it represents just 4% of U.S. retail.The panel also heard from Kirsten Daru, general counsel of Tile Inc., which makes devices that pair with phones to help people locate lost items such as keys or purses.Apple Inc. is reportedly preparing to unveil a competing service, and Daru’s 100-employee company alleges the phone maker has started putting up roadblocks to Tile’s business, such as burying permissions that allow the phone and Tile devices to communicate and prompting users to disable permissions that have been set.“You’re playing up against a team that owns the field, the ball and can change the rules at any given time,” Daru said in an interview before the hearing, adding that a majority of the company’s customers are on Apple’s operating system.Apple said that its treatment of permissions, which focused on location, were designed to protect user privacy and that it’s working with developers whose customers may want particular apps to be able to track them at all times.Daru said Apple also removed Tile devices from its retail stores, and that it bid on search terms related to the would-be rival to drive up the cost of advertising 50% each week during the fall.Cicilline has said his goal is to develop a final report with recommendations for Congress this year. He told reporters on Tuesday that he wants to wrap up his probe by the end of March and said he’s hopeful the tech giants will cooperate with requests for chief executives to give information without subpoenas, preferably in public hearings.“It’s hard to imagine that we’d conclude the investigation without hearing from some of the large technology CEOs, particularly in companies whether there’s such really centralized decision making,” he said.(Updates with comments from PopSockets CEO from eighth paragraph)\--With assistance from Mark Gurman, Rebecca Kern and David McLaughlin.To contact the reporter on this story: Ben Brody in Washington, D.C. at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Paula DwyerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Sonos, Inc. (Nasdaq: SONO) today announced that after market close on Wednesday, February 5, 2020, the company will report financial results for the first quarter ended December 28, 2019 in a letter to shareholders. The letter will be made available on the investor relations section of its website at https://investors.sonos.com/reports-and-filings/default.aspxsection=earningsreports.
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Jan.13 -- Ira Blumberg, VideoLabs senior vice president, and Bloomberg's Brad Stone discuss the patent dispute between Sonos Inc. and Google. They speak with Bloomberg's Taylor Riggs on "Bloomberg Technology."