Published , by Donovan Erskine
Published , by Donovan Erskine
Corsair (CRSR) is the latest company to share its earnings report for the previous quarter, informing both investors and the public of its recent financial performance. Corsair’s Q3 2022 earnings report is out now and shows that the company beat EPS expectations. What’s more, the company provided guidance for the upcoming quarter, which is lower than previously expected.
Corsair’s (CRSR) Q3 2022 earnings report was shared at the close of markets today. The company’s net revenue for the quarter was $311.8 million. This surpasses the $283.9 million that it reeled in back in Q3 2021, and beats the expectation of $300 million. Corsair also managed to beat earnings per share expectations for the quarter as well.
Corsair CEO Andy Paul provided a statement on the company’s latest round of earnings. “We achieved 10% sequential revenue growth from Q2 2022 to Q3 2022, while significantly reducing our channel inventory in what remains a challenging environment. Sales out levels from our Channel to Consumers were significantly above pre-pandemic levels in almost all product lines and were above the year ago level in many of our product categories.”
Corsair (CRSR) also adjusted its guidance for the upcoming Q4. The company now expects its revenue for Q4 2022 to be in the range of $1.325-1.375 billion, a decrease from its previously stated expectation of $1.4 billion. Corsair stock peaked at $13.03 in after-hours trading following the release of the Q3 earnings report, but quickly came back down to $12.63.
Corsair (CRSR) wasn’t the only tech company sharing its financial earnings today. GoPro (GPRO) also detailed its performance over the last few months, showing that the company beat its earnings and revenue expectations. For more financial news related to the tech and gaming industry, Shacknews has you covered.