2 Key Takeaways From Corsair Gaming's Q3 Earnings

Corsair Gaming (NASDAQ: CRSR) headed into its third-quarter earnings report with low expectations, as the preliminary results released by the company on Oct. 14 had already dented investor confidence. The video gaming hardware and peripherals company trimmed its full-year forecast, warning investors that supply chain challenges could dent its 2021 sales to the tune of 10%.

So it wasn't surprising to see Corsair's third-quarter report, released on Nov. 2, miss Wall Street's expectations. The company's revenue fell 14.4% year over year to $391.1 million, while adjusted net income fell to $16.3 million, or $0.16 per share, from $48.5 million, or $0.54 per share in the year-ago period. That was a huge bottom-line miss, as analysts were expecting Corsair to earn $0.25 per share.

Let's look at two important takeaways from Corsair's latest earnings report and see if there's a turnaround in sight for the company.

Source Fool.com