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Sep 30, 2020
Corsair Q3 2020 Earnings Report
Corsair grew significantly, driven by increased demand for gaming and content creation gear.
Key Takeaways
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.
Revenue by Segment
Forward Guidance
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.
Positive Outlook
- 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.
- Adjusted EBITDA to be in the range of $187 million to $193 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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