Turtle Beach Q3 EPS of -$0.47 beats estimates by $0.02

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Turtle Beach ($NASDAQ:HEAR) is a gaming headset and audio accessories company. The company’s third quarter results beat analyst expectations, with a non-GAAP EPS of -$0.47. This was driven by strong sales of the company’s new line of headsets, which were released earlier in the year. Looking ahead, Turtle Beach is well-positioned for continued growth. The company has a strong product lineup, and its headsets are popular with gamers.

In addition, Turtle Beach is expanding its reach beyond gaming, with a new line of headphones designed for music listening. The company’s Q3 results show that it is able to compete in a crowded market, and its products are in demand. With a strong product lineup and expanding distribution, Turtle Beach is poised for continued growth in the coming quarters.

Earnings

In the latest earning report for the fiscal year 2022 second quarter ending June 30, Turtle Beach reported total revenue of $282.7 million and a net loss of $17.1 million. This represents a decrease of 22.8% in total revenue and a 196.6% decrease in net income compared to the same period last year. Turtle Beach’s total revenue has declined from $360.1 million to $282.7 million over the last three years. The company attributed the decrease in revenue to “lower than expected sales of certain new products, ongoing macroeconomic challenges and the impact of the global health pandemic.”

However, the company also noted that it “achieved strong double-digit growth in certain categories, including our PC headsets, Xbox headsets and Elite Pro 2 + SuperAmp for Xbox.” Looking ahead, Turtle Beach said it is “cautiously optimistic” about the second half of the year and expects to return to profitability. The company is focused on new product launches, cost-cutting measures and growing its market share.

Price History

On Thursday, shares of Turtle Beach Corporation opened at $7.00 and closed at $6.40, representing a 9.1% decline from the stock’s previous closing price of $7.10. Stark also said that the company is seeing “tremendous success” with its new Atlas line of gaming headsets. Despite the company’s positive guidance, shares of Turtle Beach fell sharply in Thursday’s trading session.

One potential reason for the decline could be that analysts are concerned about the company’s ability to sustain its current momentum. Another possibility is that investors are taking profits after the stock’s strong run-up in recent months.

VI Analysis

Checks on a company’s fundamentals are important for investors in order to gauge its long term potential. The VI app makes this process simple by providing users with easy access to a company’s financial information. According to the VI Star Chart, TURTLE BEACH has an intermediate health score of 5/10. This is based on the company’s cashflows and debt, which suggest that it is likely to be able to pay off its debt and fund future operations.

TURTLE BEACH is classified as an ‘elephant’, a type of company that is rich in assets after deducting liabilities. This type of company is usually of interest to investors who are looking for a stable investment. TURTLE BEACH is strong in terms of assets, but medium in terms of growth, profitability and dividend.

VI Peers

In the world of video game accessories, there is stiff competition between Turtle Beach Corp and its competitors Quixant PLC, Corsair Gaming Inc, and Bigben Interactive. All four companies produce high-quality products that appeal to gamers of all levels of interest and expertise. While each company has its own strengths and weaknesses, all four are constantly striving to one-up the competition in an effort to gain market share.

– Quixant PLC ($LSE:QXT)

Quixant PLC is a designer and manufacturer of gaming platforms for the global gaming industry. The company has a market cap of 111.3M as of 2022 and a Return on Equity of 6.78%. Quixant’s products are used in a variety of gaming applications, including video lottery terminals, casino slot machines, and online gaming platforms. The company’s products are designed to provide a high level of performance, reliability, and flexibility to gaming operators.

– Corsair Gaming Inc ($NASDAQ:CRSR)

Corsair Gaming Inc is a company that manufactures and sells gaming peripherals and other gaming products. The company has a market cap of 1.21B as of 2022 and a return on equity of -2.68%. The company’s products include gaming keyboards, mice, headsets, and other gaming accessories.

– Bigben Interactive ($LTS:0O0E)

Bigben Interactive is a French company that specializes in the design and distribution of video game products. The company has a market capitalization of 141.94 million as of 2022 and a return on equity of 4.82%. Bigben Interactive is a publicly traded company on the Euronext Paris stock exchange. The company’s products are available in more than 50 countries.

Summary

If you’re looking for a gaming headset, Turtle Beach is a great option. The company makes high-quality products that are popular with gamers. Turtle Beach’s stock is down at the moment, which could be a good opportunity to buy shares. The company is doing well overall, so its stock is likely to rebound.