Brief: Corsair Gaming Reports Second Quarter 2022 Financial Results

Corsair Gaming

04/08/2022 21:46

Aug 4 (Reuters) - Corsair Gaming Inc  CRSR.O :
    * CORSAIR GAMING REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS
    * Q2 LOSS PER SHARE $0.62
    * SEES FY REVENUE $1.35 BILLION TO $1.45 BILLION
    * QTRLY NET REVENUE WAS $283.9 MILLION
    * CORSAIR GAMING - YOY DECLINES IN QTRLY REVENUE REFLECT ADVERSE IMPACT OF
MACRO-ECONOMIC HEADWINDS AFFECTING CONSUMER SPENDING ON GAMING GEAR
    * CORSAIR GAMING - PROACTIVELY TAKEN ACTIONS TO REDUCE OPERATING EXPENSES
    * CORSAIR GAMING - HAVE ADJUSTED PRODUCT ORDERING AND TOOK A $19.5 MILLION
RESERVE
AGAINST POTENTIAL INVENTORY OVERHANGS
    * BELIEVE OUR BUSINESS FUNDAMENTALS REMAIN STRONG WITH A POSITIVE LONG-TERM
OUTLOOK
    * CONTINUE TO BELIEVE SELF-BUILT GAMING PC MARKET WILL BEGIN TO ACCELERATE
IN
SECOND HALF OF 2022
    * Q2 EARNINGS PER SHARE VIEW $-0.01, REVENUE VIEW $320.1 MILLION --
REFINITIV IBES
DATA
    * FY2022 REVENUE VIEW $1.67 BILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nBwPdB0Xa 
Further company coverage:  CRSR.O 

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