Corsair reported a strong third quarter with net revenue increasing by 60.7% year-over-year. The company's growth was fueled by rising demand for gaming and streaming products, leading to stock shortages at major retailers. Corsair is focused on ramping up its supply chain to meet the continued high demand.
Net revenue increased by 60.7% year-over-year, reaching $457.1 million.
Gamer and creator peripherals segment net revenue increased by 128.8% year-over-year, reaching $161.6 million.
Gaming components and systems segment net revenue increased by 38.3% year-over-year, reaching $295.5 million.
Net income was $36.4 million, or $0.40 per diluted share, compared to net income of $1.5 million in the same period a year ago, or $0.02 per diluted share.
For the full year 2020, Corsair expects net revenue to be in the range of $1,616 million to $1,631 million, adjusted operating income to be in the range of $178 million to $184 million, and adjusted EBITDA to be in the range of $187 million to $193 million.
Visualization of income flow from segment revenue to net income
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