Published , by TJ Denzer
Published , by TJ Denzer
Corsair was among the parade of tech companies that were reporting on earnings results this week, and with it came the company’s Q2 2024 reporting. Unfortunately, Corsair’s Q2 didn’t make the kind of waves that will thrill its investors. It reported greater than expected losses on its earnings per share (EPS) and a much lower revenue that analysts estimated as well.
Corsair put out its Q2 2024 earnings results on its investor relations website this week. In its earnings, the company reported a revenue of $261.3 million. That was well below analyst consensus, which was expecting around $290 million. Meanwhile, Corsair’s EPS came out to $0.07 per share in losses. Analysts were hoping to see $0.05 per share in profits, but even the Earnings Whisper number only estimated $0.01 per share in losses.
Corsair CEO Andy Paul attributed Corsair’s underperformance in Q2 to a “softer-than-expected self-built PC market,” as he goes on to explain below:
Paul seems optimistic about Corsair bouncing back, and it certainly has the hardware to do so with companies like SCUF Gaming (game controllers) and Elgato (livestreaming) in its portfolio. Stay tuned to further quarters to see how it pans out and check out other companies earnings results as they drop.