Sonos Shares Surge After Earnings, Then Plunge 17% on Thursday

Sonos, Inc. reported its fiscal 2026 third‑quarter results, showing revenue of $375.3 million, up 9 % year over year, and a net income of $29.9 million versus a loss of $3.4 million in the same quarter a year earlier. CEO Tom Conrad highlighted the company’s “inflection” and “leaner, more focused” business model, while CFO Saori Casey noted the upcoming holiday quarter as the most important sales period.

Investors initially pushed the stock higher, with the price rising as much as 8 % on the day of the release and closing up 4.3 %. However, the following day the shares fell sharply, dropping 17.6 % as market sentiment shifted.