Why Corsair Gaming Stock Dropped Today

Shares of Corsair Gaming (NASDAQ: CRSR) were down 10.5% as of 10:45 a.m. ET Friday, according to data provided by S&P Global Market Intelligence, as the high-performance computing gear and technology specialist merely reiterated its full-year guidance after posting slightly stronger-than-expected second-quarter results.

Corsair's second-quarter revenue climbed 14.6% year over year to $325.4 million -- slightly above the $322.1 million expected by analysts -- as healthy growth in gaming components and systems (up 26.6% year over year, to $246.7 million) was slightly offset by an 11.5% decline in revenue from gamer and creator peripherals (to $78.8 million). On the bottom line, that translated to adjusted net income of $9.8 million, or $0.09 per share (compared to a $0.20-per-share loss in the year-ago period), roughly in line with Wall Street's models.

Corsair CEO Andy Paul stated the company is "very excited" with its quarterly results with solid revenue growth and expanding gross margin.

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Source Fool.com