Stock Track | Corsair Gaming Shares Plunge as Disappointing Q3 Results, Weak Outlook Spook Investors

Stock Track11-08

Shares of Corsair Gaming, Inc. (CRSR) plummeted 5.11% on November 8th, following the company's release of its third-quarter 2024 financial results that significantly missed Wall Street expectations. The gaming peripherals and components maker also lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.

For the third quarter ended September 30, 2024, Corsair reported a staggering net loss of $51.6 million, or $0.56 per share, widely missing analysts' projections of a profit of $0.06 per share. While revenue declined 16.2% year-over-year to $304.2 million, it still managed to beat consensus estimates of $302.5 million.

The lackluster performance was primarily driven by a 26% revenue decline in Corsair's core Gaming Components and Systems segment, which accounted for $202.2 million of the total revenue. This decline was attributed to the end of the current GPU cycle and weaker consumer demand. Despite a 13% revenue growth in the Gamer and Creator Peripherals segment to $102 million, it was not enough to offset the weakness in the company's core business.

In light of the disappointing results, Corsair's management revised its full-year guidance downward, citing macroeconomic headwinds and industry challenges. The company's shares have been under pressure, reflecting investors' concerns over the company's ability to navigate the current market environment.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1112939412?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-08 23:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1112939412","market":"us","top_or_hot":-1,"title":"Stock Track | Corsair Gaming Shares Plunge as Disappointing Q3 Results, Weak Outlook Spook Investors","media":"Stock Track","content":"<p>Shares of Corsair Gaming, Inc. (CRSR) plummeted 5.11% on November 8th, following the company's release of its third-quarter 2024 financial results that significantly missed Wall Street expectations. The gaming peripherals and components maker also lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.</p>\n\n<p>For the third quarter ended September 30, 2024, Corsair reported a staggering net loss of $51.6 million, or $0.56 per share, widely missing analysts' projections of a profit of $0.06 per share. While revenue declined 16.2% year-over-year to $304.2 million, it still managed to beat consensus estimates of $302.5 million.</p>\n\n<p>The lackluster performance was primarily driven by a 26% revenue decline in Corsair's core Gaming Components and Systems segment, which accounted for $202.2 million of the total revenue. This decline was attributed to the end of the current GPU cycle and weaker consumer demand. Despite a 13% revenue growth in the Gamer and Creator Peripherals segment to $102 million, it was not enough to offset the weakness in the company's core business.</p>\n\n<p>In light of the disappointing results, Corsair's management revised its full-year guidance downward, citing macroeconomic headwinds and industry challenges. The company's shares have been under pressure, reflecting investors' concerns over the company's ability to navigate the current market environment.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Corsair Gaming Shares Plunge as Disappointing Q3 Results, Weak Outlook Spook Investors</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Corsair Gaming Shares Plunge as Disappointing Q3 Results, Weak Outlook Spook Investors\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-08 23:09 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Corsair Gaming, Inc. (CRSR) plummeted 5.11% on November 8th, following the company's release of its third-quarter 2024 financial results that significantly missed Wall Street expectations. ...</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":"1112939412","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1112939412","pubTimestamp":1731078582,"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":"Shares of Corsair Gaming, Inc.  plummeted 5.11% on November 8th, following the company's release of its third-quarter 2024 financial results that significantly missed Wall Street expectations. The gaming peripherals and components maker also lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.For the third quarter ended September 30, 2024, Corsair reported a staggering net loss of $51.6 million, or $0.56 per share, widely missing analysts' projections of a prof","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CRSR":"Corsair Gaming, Inc."},"translate_title":"股票追踪Corsair Gaming股价暴跌，第三季度业绩令人失望，前景疲软令投资者感到恐慌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CRSR":1},"content_text":"Shares of Corsair Gaming, Inc. (CRSR) plummeted 5.11% on November 8th, following the company's release of its third-quarter 2024 financial results that significantly missed Wall Street expectations. The gaming peripherals and components maker also lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.\nFor the third quarter ended September 30, 2024, Corsair reported a staggering net loss of $51.6 million, or $0.56 per share, widely missing analysts' projections of a profit of $0.06 per share. While revenue declined 16.2% year-over-year to $304.2 million, it still managed to beat consensus estimates of $302.5 million.\nThe lackluster performance was primarily driven by a 26% revenue decline in Corsair's core Gaming Components and Systems segment, which accounted for $202.2 million of the total revenue. This decline was attributed to the end of the current GPU cycle and weaker consumer demand. Despite a 13% revenue growth in the Gamer and Creator Peripherals segment to $102 million, it was not enough to offset the weakness in the company's core business.\nIn light of the disappointing results, Corsair's management revised its full-year guidance downward, citing macroeconomic headwinds and industry challenges. The company's shares have been under pressure, reflecting investors' concerns over the company's ability to navigate the current market environment.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1112939412"}