America Needs More Power. Its Warehouse Rooftops Could Provide the Solution.
On a flight into Los Angeles, Martin Rogers, U.S. general manager at solar technology firm SolarEdge, noticed the opportunity first hand: mile after mile of empty warehouse rooftops.
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The Verge
8 minutes ago
- The Verge
Sonos confirms tariffs will increase its prices this year
Tom Conrad took over as CEO of Sonos in January as it continues to recover from last year's disastrous mobile app update, and now the company has issued its first quarterly earnings report after he dropped the interim tag from his title. Beyond the numbers, with $344.8 million in revenue and a net loss of $3.4 million, Conrad acknowledged the impact that President Trump's tariffs will have on its business, saying that 'it has become clear that we'll need to raise prices on certain products later this year,' as reported earlier by Bloomberg. Conrad didn't go into detail on the price changes and said that Sonos is working with its partners to share the extra costs, as nearly all of its products for the US are made in Vietnam and Malaysia, which are both facing higher tariff rates soon. Conrad: With respect to our operations, like many companies, the most significant near-term challenge has been the uncertain tariff environment. As a reminder short of a few accessories, and our passive speaker partnership with Sonance (I think this is what he said?) we do all of our us-bound manufacturing in Vietnam and Malaysia. We talked last quarter about the contingency planning we underwent to minimize the effects of terrorists on our business, while also doing what we can to limit the downstream impact to our customers. Last week's news, the tariff rates we were subject to going forward, appeared to be 20 percent for Vietnam and 19 percent for Malaysia. We continue to work closely with our contract manufacturers and our Channel Partners to share tariff costs, though it has become clear that we'll need to raise prices on certain products later this year. As these pricing changes land, we'll monitor consumer behavior closely as well as competitive Trends across our categories and will make adjustments in collaboration with our Channel Partners, when and if necessary, to ensure we're exploring every opportunity to optimize our respective top and bottom lines. In response to one of the analyst's questions, Conrad said, 'I think the best way to think about what we're trying to do here strategically is to craft a pricing plan that supports our goal of optimizing growth profit dollars.' As a result, the executive said that the price changes could vary across different products, depending on the market and with an eye towards what competitors are doing. He pointed to some software updates Sonos has released lately, like multiuser TV audio swap and TrueCinema audio adjustments for its Ace headphones, and a recent AI speech enhancement for the Arc Ultra. Posts from this author will be added to your daily email digest and your homepage feed. See All by Richard Lawler Posts from this topic will be added to your daily email digest and your homepage feed. See All Business Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Sonos Posts from this topic will be added to your daily email digest and your homepage feed. See All Speakers Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech
Yahoo
17 minutes ago
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Airbnb (NASDAQ:ABNB) Surprises With Q2 Sales But Stock Drops
Online accommodations platform Airbnb (NASDAQ:ABNB) reported Q2 CY2025 results beating Wall Street's revenue expectations , with sales up 12.7% year on year to $3.10 billion. The company expects next quarter's revenue to be around $4.06 billion, close to analysts' estimates. Its GAAP profit of $1.03 per share was 9.5% above analysts' consensus estimates. Is now the time to buy Airbnb? Find out in our full research report. Airbnb (ABNB) Q2 CY2025 Highlights: Revenue: $3.10 billion vs analyst estimates of $3.03 billion (12.7% year-on-year growth, 2.1% beat) EPS (GAAP): $1.03 vs analyst estimates of $0.94 (9.5% beat) Adjusted EBITDA: $1.04 billion vs analyst estimates of $971.2 million (33.7% margin, 7.4% beat) Revenue Guidance for Q3 CY2025 is $4.06 billion at the midpoint, roughly in line with what analysts were expecting EBITDA guidance for Q3 CY2025 is $2 billion at the midpoint, in line with analyst expectations Operating Margin: 19.8%, up from 18.1% in the same quarter last year Free Cash Flow Margin: 31.1%, down from 78.4% in the previous quarter Nights and Experiences Booked: 134 million, up 8.9 million year on year Market Capitalization: $80.55 billion Company Overview Founded by Brian Chesky and Joe Gebbia in their San Francisco apartment, Airbnb (NASDAQ:ABNB) is the world's largest online marketplace for lodging, primarily homestays. Revenue Growth Reviewing a company's long-term sales performance reveals insights into its quality. Any business can have short-term success, but a top-tier one grows for years. Luckily, Airbnb's sales grew at a solid 16.2% compounded annual growth rate over the last three years. Its growth surpassed the average consumer internet company and shows its offerings resonate with customers, a great starting point for our analysis. This quarter, Airbnb reported year-on-year revenue growth of 12.7%, and its $3.10 billion of revenue exceeded Wall Street's estimates by 2.1%. Company management is currently guiding for a 8.8% year-on-year increase in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 8.4% over the next 12 months, a deceleration versus the last three years. This projection is underwhelming and suggests its products and services will face some demand challenges. At least the company is tracking well in other measures of financial health. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Nights And Experiences Booked Booking Growth As an online travel company, Airbnb generates revenue growth by increasing both the number of stays (or experiences) booked and the commission charged on those bookings. Over the last two years, Airbnb's nights and experiences booked, a key performance metric for the company, increased by 10% annually to 134 million in the latest quarter. This growth rate is solid for a consumer internet business and indicates people are excited about its offerings. In Q2, Airbnb added 8.9 million nights and experiences booked, leading to 7.1% year-on-year growth. The quarterly print was lower than its two-year result, suggesting its new initiatives aren't accelerating booking growth just yet. Revenue Per Booking Average revenue per booking (ARPB) is a critical metric to track because it not only measures how much users book on its platform but also the commission that Airbnb can charge. Airbnb's ARPB growth has been subpar over the last two years, averaging 2.7%. This isn't great, but the increase in nights and experiences booked is more relevant for assessing long-term business potential. We'll monitor the situation closely; if Airbnb tries boosting ARPB by taking a more aggressive approach to monetization, it's unclear whether bookings can continue growing at the current pace. This quarter, Airbnb's ARPB clocked in at $23.10. It grew by 5.2% year on year, slower than its booking growth. Key Takeaways from Airbnb's Q2 Results We enjoyed seeing Airbnb beat analysts' revenue and EBITDA expectations this quarter. Looking ahead, revenue and EBITDA guidance for next quarter was just in line, which didn't seem good enough. The market seemed to be hoping for more, and the stock traded down 6.8% to $121.90 immediately after reporting. Big picture, is Airbnb a buy here and now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
Yahoo
36 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures waver as Trump's trade deadline nears
US stock futures wavered just above the flatline with President Trump's trade deadline fast approaching. Futures attached to the Dow Jones Industrial Average (YM=F) ticked up 0.1%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) rose 0.2%. Trump's deadline for trade deals lands at 12:01 a.m. ET on Thursday. The president has teed up sweeping tariffs to hit dozens of countries that have so far not negotiated trade agreements with the US, saying there are no plans to further delay hiking rates this time. Read more: The latest on Trump's tariffs Apple (AAPL) shares climbed Wednesday afternoon as Trump and CEO Tim Cook announced the company would make a $100 billion investment in the US. As part of the deal, Apple will manufacture the cover glasses for iPhones and Apple Watches in Kentucky. The president also said at the press conference that he will eventually set a 100% tariff on semiconductors, but companies like Apple that commit to building in the US will be exempt from the tariff. Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT) reported earnings after the bell. DoorDash shares jumped on an upbeat forecast driven by resilient delivery demand. Airbnb and Lyft, meanwhile, fell on disappointing guidance. Stocks gained in day trading on Wednesday, buoyed by a slate of earnings that beat Wall Street expectations, including McDonald's (MCD) and Disney (DIS). The lead up to Apple's announcement of fresh investment in the US also boosted its stock and sent the Nasdaq higher. On Thursday, in addition to grappling with the latest trade policy shifts, Wall Street will receive new data on weekly jobless claims. The state of the labor market is in high focus following a disappointing July jobs report and downbeat revisions to the May and June jobs reports. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
