Connect with us

Hi, what are you looking for?

Contribution AmericansContribution Americans

Tech News

Sonos revenue falls in the aftermath of company’s messy app debacle

Vector illustration of the Sonos logo.
Image: Cath Virginia / The Verge

Sonos is still trying to climb out from the hole it dug itself earlier this year by recklessly shipping an overhauled mobile app well before the software was actually ready. Today, just a couple weeks after the release of its latest hardware products — the Arc Ultra and Sub 4 — Sonos reported its fiscal Q4 2024 earnings. And the damage done by the app debacle is clear.

Revenue was down 8 percent year over year, which Sonos attributed to “softer demand due to challenging market conditions and challenges resulting from our recent app rollout.” During the quarter, the company sank $4 million into unspecified “app recovery investments.” (Sonos previously estimated it could spend up to $30 million to resolve all of the trouble that has…

Continue reading…

You May Also Like

Editor's Pick

On this week’s edition of StockCharts TV‘s StockCharts in Focus, Grayson discusses the most important chart on all of StockCharts – your default ChartStyle! In addition...

Tech News

Image: the Internet Archive The Internet Archive is back online in a read-only state after a cyberattack brought down the digital library and Wayback...

Editor's Pick

When the market is down, you can see which stocks Wall Street may be pumping money into. So on a Monday morning when the...

Editor's Pick

There are times when the price action of a stock is worth analyzing further. This article is a follow-up to last week’s StockCharts Technical...