With various companies announcing their quarterly results at the end of Q2 2021, many eyes are on multiple major players in the gaming and tech sector in regards to short and long-term performance and future expectations. Corsair is one of the leading PC and gaming peripheral and accessory companies in the field, and it just released its quarterly financial reports today. While the company reported strong net revenue, it wasn’t able to overcome Wall Street expectations in all regards.
Corsair launched its Q2 2021 earnings results on its Investor Relations website on August 3, 2021. Some highlights of the latest report include Corsair’s Q2 net revenue, which came in at $472.9 million. This was a 24.3 percent increase year-over-year and outdid Wall Street expectations of $467.1 million by quite a bit. Where Corsair did not meet expectations was in earnings-per-share over Q2, which were $0.36 per share against Wall Street’s expected $0.42 EPS forecast. Even despite the net revenue win, Corsair’s outlook on the full year remained unchanged from its previous forecast. Following the earnings results release, Corsair stock price took a dip in response.
Corsair has generally been having strong quarterly finishes despite its dips in stock value in 2021. The company has a strong brand name in the peripheral community, especially with its acquisition of SCUF Gaming in 2019. Even so, the company was also involved in a lawsuit with Valve over apparent controller patent infringement over that very SCUF brand earlier in 2021. Corsair finished strong in Q1 2021 as well, but its stock price has continually dipped since a major spike in February 2021 with only a slight spike in June 2021, year-to-date.
Corsair seems to have the products and market to continue to create strong quarters going forward, but it will remain to be seen if its outlook changes in further quarters. Meanwhile, stay tuned here at Shacknews for more Q2 2021 earnings results as they become available.