Stock Track | Corsair Gaming's Stock Tumbles on Disappointing Q3 Results and Weak Outlook

Stock Track11-08

Corsair Gaming, Inc. (CRSR) experienced a pre-market plunge of 17.81% on Tuesday, November 7, 2024, as the gaming peripherals and components maker reported disappointing third-quarter financial results and lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.

The company 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 lackluster 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 consumer demand. While the Gamer and Creator Peripherals segment saw a 13% revenue growth to $102 million, it was not enough to offset the weakness in the core components business.

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(CRSR) experienced a pre-market plunge of 17.81% on Tuesday, November 7, 2024, as the gaming peripherals and components maker reported disappointing third-quarter financial ...</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":"1192488296","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1192488296","pubTimestamp":1731036805,"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.  experienced a pre-market plunge of 17.81% on Tuesday, November 7, 2024, as the gaming peripherals and components maker reported disappointing third-quarter financial results and lowered its full-year guidance, citing macroeconomic headwinds and industry challenges.The company 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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