Corsair Gaming soars after results come in better than feared

Corsair Gaming

04/11/2022 18:22

** Shares of Corsair Gaming Inc  CRSR.O  surging 15.28% on Fri a
day after the computer component seller reported qtrly results
that were better than feared
    ** CRSR late on Thur said qtrly rev fell 20% to 312 mln,
beating analyst estimates of $299 mln
    ** Adjusted EPS was 8 cents street estimate of 2 cents
    ** CRSR soared during pandemic lockdowns as video gamers
built their own computers, in some cases driving up component
prices, but demand has since dropped off
    ** CRSR down 31% YTD vs Nasdaq's  .IXIC  34% decrease
    ** "The self-built PC market has been held back over the
past 2 years, as high demand for GPU cards from crypto miners
caused GPU prices to rise and in some cases double. ... GPU
demand has since normalized resulting in a decline in prices
back to standard MSRP or below. We are already seeing the
positive effects of this on the market," per press release
 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com; Twitter: @randewich;))