Sonos plunged 15 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire.
In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor.
Sonos reported earnings per share of $0.55. The company posted quarterly revenue of $496 million versus $491 million expected, according to Refinitiv. The company reaffirmed guidance for its 2019 fiscal year, which ends Sept. 30. It expects EBITDA of $83 million to $88 million on revenue of $1.25 billion to $1.28 billion.
This story is developing. Please check back for updates.
from Top News & Analysis https://cnb.cx/2HVxTBl
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