Wi-fi speaker maker Sonos might lastly be coming into the headphone market. The mere hope is proving precious.
Sonos’s shares surged almost 15% Thursday morning regardless of some relatively tepid fiscal fourth quarter outcomes, reported late Wednesday. These outcomes included a income forecast for the brand new fiscal yr that was almost 4% beneath Wall Road’s targets. However the firm additionally had a optimistic shock in retailer: a promise from CEO Patrick Spence of an “entry into a brand new multi-billion greenback class within the second half” of subsequent fiscal yr, together with the context that the brand new system will account for almost all of the $100 million in income from new merchandise the corporate expects to generate within the yr.
The corporate didn’t specify what the brand new product is, however analysts are largely assuming it to be headphones. In a observe to shoppers, Brent Thill of Jefferies referred to as headphones “a no brainer” for the maker of high-end WiFi audio system, including that it “creates the potential to promote a number of headphone merchandise into the identical family with a naturally sooner refresh cycle vs. the remainder of their portfolio.”
