Stock Track | Corsair Gaming Plunges on Disappointing Q3 Results and Weak Outlook

Stock Track11-07

Corsair Gaming, Inc. (CRSR) saw its stock price tumble in pre-market trading on Tuesday, November 7, 2024, after the company reported disappointing third-quarter financial results and lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.

The gaming peripherals and components maker reported a net loss of $51.6 million, or $0.56 per share, for the third quarter ended September 30, 2024, missing analysts' expectations of a profit of $0.06 per share. Revenue declined 16.2% year-over-year to $304.2 million, although it beat the consensus estimate of $302.5 million.

The disappointing performance was primarily driven by a 26% revenue decline in Corsair's Gaming Components and Systems segment to $202.2 million, reflecting the end of the current GPU cycle and weaker demand. The Gamer and Creator Peripherals segment, which includes gaming keyboards, mice, and streaming equipment, fared better with a 13% revenue growth to $102 million.

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(CRSR) saw its stock price tumble in pre-market trading on Tuesday, November 7, 2024, after the company reported disappointing third-quarter financial results and lowered its full...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CRSR","symbol_name":"Corsair Gaming, Inc.","start_time":0,"source_url":"","article_id":"1110624230","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1110624230","pubTimestamp":1730970872,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Corsair Gaming, Inc.  saw its stock price tumble in pre-market trading on Tuesday, November 7, 2024, after the company reported disappointing third-quarter financial results and lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.The gaming peripherals and components maker reported a net loss of $51.6 million, or $0.56 per share, for the third quarter ended September 30, 2024, missing analysts' expectations of a profit of $0.06 per share. 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