Corsair (CRSR) Stock Flops After Q4 Earnings Crush Estimates – Idaho Reporter

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Corsair (CRSR) Stock Flops After Q4 Earnings Crush Estimates

High-end game hardware and peripheral manufacturer Corsair Gaming (NASDAQ:CRSR) Tuesday almost matched Wall Street’s fourth-quarter target . Corsair’s earnings report boosted CRSR stock during pre-market trading.

Based in Fremont, CA., the company generated $556.3 million in the final quarter of the year and earned 53 cents per diluted share. Analysts expected Corsair revenue of 46 cents per share with revenue of $530 million.

““We are excited to see the market for gaming and streaming product continue to grow at such a pace. It is clear that a new wave of gamers and streamers has entered the market as well as consumers building gaming PCs for the first time,” CEO Andy Paul said.

“I am particularly pleased that the revenue from our gaming components and systems segment is now over $1 billion,” he added.

The Company expects 2021 full year Net revenue to be in the range of $1.8 billion to $1.95 billion.

Corsair’s earnings report is the second for this company since its IPO on September 23. The price of the Corsair IPO was only $17 per share. CRSR stock already went over $50, on November 24.

In pre-market trading on the stock market today, CRSR stocks lost almost 4% near $44.00. During Monday’s regular session, CRSR shares gained 1.68% to 45.99 prior to Corsair’s earnings report.

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