Why Turtle Beach Stock Popped Briefly This Morning
Shares of Turtle Beach (NASDAQ: HEAR) popped by as much as 13% this morning after the company reported preliminary fourth-quarter results that are ahead of analyst expectations. As of 2:50 p.m. EST, the stock had pulled back and was up just 2%.
Revenue in the fourth quarter should be in the range of $130 million to $132 million, compared to the $104.9 million in sales Wall Street is expecting. Adjusted earnings per share in the fourth quarter are estimated to be in the range of $0.73 to $0.82, which is significantly above the consensus estimate of $0.47 per share in adjusted profits. The consumer discretionary company, which specializes in making gaming headsets, said adjusted EBITDA in the fourth quarter jumped to a range of $21 million to $23 million.
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Source Fool.com
