Corsair Gaming slips on disappointing Q1

Corsair Gaming

06/05/2022 12:35

** Video game hardware maker Corsair Gaming  CRSR.O  shares
down 5.1% at $14.8 premarket
    ** CRSR posted adj. profit of $0.09/share on revenue of
$380.7 mln, below analyst expectations for profit of $0.19/share
on revenue of $400.4 mln, according to Refinitiv data
    ** Rev from the biggest segment, Gamer and creator
peripherals, declined 23.7% to $134.1 mln during the
qtr(nBw21wn36a)
    ** Co misses rev estimates for first time since Q3 2020
    ** Credit Suisse cut target price to $20.00 from $25.00,
saying weak results were primarily driven by general inflation,
higher freight costs and lower consumer confidence due to the
conflict in Eastern Europe
    ** Up to Thursday's close, stock had fallen 26.04% YTD
compared with a 15.01% decline in the NYSE Arca Computer
Hardware index  .HWI 

 (Reporting by Shreyaa Narayanan in Bengaluru)
 ((Shreyaa.Narayanan@thomsonreuters.com))