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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
HomeTech InsidesConsumer Electronics Stocks...

Consumer Electronics Stocks In Action: GoPro, Inc. (NASDAQ: GPRO), Sonos, Inc. (NASDAQ: SONO), Sony Group Corp. (NYSE: SONY)

GoPro, Inc. (NASDAQ: GPRO) jumps down over 10.14% to $5.81 in early trading session on Friday as the firm announced financial results for its fourth quarter. “In 2022, GoPro achieved GAAP profitability in a very challenging macroeconomic environment. We generated EBITDA of $95 million, or 9% of revenue. Additionally, we grew subscribers to 2.25 million, bringing our subscription and service revenue to an annual run rate of $100 million with 70-80% gross margin,” said Nicholas Woodman, GoPro’s founder and CEO.

GoPro’s CFO and COO Brian McGee said that GoPro ended the year with solid balance sheet metrics and $367 million in cash after repaying $125 million in debt and repurchasing $40 million in stock.

Revenue was $321 million, down 18% year on year but in line with our expectations. GoPro.com revenue, which includes subscription and service revenue, remained constant year over year at $128 million, accounting for 40% of total revenue. Revenue from subscriptions and services increased by 30% year on year to $22 million.

GoPro repurchased $40 million in stock in 2022, which covered our stock-based compensation expense for the year, and we intend to continue executing on our stock repurchase plan in 2023. GoPro will also pay off $125 million in debt by 2022.

Sonos, Inc. (NASDAQ: SONO) Financial Results and Conference Call

Sonos, Inc. (NASDAQ: SONO) plunges 1.31% on Friday as the firm recently releases financial results for the first quarter ended December 31, 2022. Sonos’ last earnings report was over a month ago (SONO). In that time, shares have gained about 2.5%, outperforming the S&P 500.

Sonos reported a non-GAAP loss of 32 cents per share in the fourth quarter of fiscal 2022, compared to earnings of 8 cents per share the previous year. The consensus estimate from Zacks was for a loss of 43 cents per share. Quarterly revenues fell 12% year on year to $316.3 million (up 6.6% on a constant-currency basis or cc), owing to soft demand for its products amid continued supply constraints and unfavorable foreign exchange movements. The top line, on the other hand, outperformed the consensus estimate by 4.6%. After completing the existing $150 million share repurchase plan, the company announced a new $100 million share repurchase program.

Sony Group Corp. (NYSE: SONY) Receives Strong Outlook

Sony Group Corp. (NYSE: SONY) inches up in early trading session on Friday as the company raised its full-year profit forecast after record PlayStation 5 console sales helped earnings beat expectations. The Tokyo-based company raised its PS5 sales forecast for the fiscal year ending March to 19 million units, up from 7.1 million in the holiday quarter. The momentum for expanding the PS5 ecosystem is growing, Chief Financial Officer Hiroki Totoki said on a conference call following earnings Thursday, dismissing concerns about a lull in demand for the two-year-old console.

Sony also increased its operating profit forecast from 1.16 trillion to 1.18 trillion ($9.2 billion). The key games division raised expectations, helped by the tailwind of favorable exchange rates. Sony now expects slightly lower revenue for the year than it did previously.

According to Morningstar Investment Service analyst Kazunori Ito, Sony’s earnings are in line with expectations despite the fact that global demand is deteriorating. “How long Sony can maintain this momentum depends on how much hardware they can deliver,” he added. If they can keep this virtuous software-hardware cycle going, which was not possible until last year, it could be a watershed moment.”

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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C3.ai Inc. (NYSE: AI) Short Seller Accuses Company of ‘Highly Aggressive Accounting’

Shares of C3.ai Inc. (NYSE: AI) inches down in pre trading session on Thursday as Kerrisdale Capital, a short seller, claimed that the business software firm has "severe accounting and transparency concerns." In a letter to Deloitte & Touche LLP,...

Walmart Inc. (NYSE: WMT) Aims to Cut 2,000 Workers at Five US E-Commerce Facilities

Walmart Inc. (NYSE: WMT) inches down in early trading session on Tuesday as the company would eliminate more than 2,000 workers at five US e-commerce facilities, as per Bloomberg. According to the report, which used regulatory filings, the layoffs...

BlackBerry Limited (NYSE: BB) Declares $900M Patent Sale to Malikie Innovations

BlackBerry Limited (NYSE: BB) drops around 2% in pre session on Monday as the business recently announced a new patent sale agreement for up to $900 million with Malikie Innovations Ltd, a division of the industry's top patent monetization...

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