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Sonos Revenue Rises 20% After Five Product Launches

Sonos reported fourth-quarter revenue of $344.4 million, up 20% from a year earlier, after launching five products this year, including its Sonos 27 operating system. The audio equipment maker also reported a narrower quarterly loss and authorized a stock repurchase program of up to $150 million.

Sonos Revenue Rises 20% After Five Product Launches

The company posted a loss of $5.2 million, or 4 cents a share, for the quarter ended Tuesday, compared with a loss of $37.9 million, or 31 cents a share, a year earlier. Adjusted earnings were 4 cents a share.

Chief Executive Tom Conrad said Sonos grew in every region this year. Chief Financial Officer Saori Casey said the company delivered higher profits while absorbing $56 million in higher memory costs.

Sonos shares fell 2.3% in late trading to $16.50.

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