Corsair Gaming (CRSR) forecasts 2023 revenue below analyst expectations
The company's 2023 revenue forecast fell slightly below expectations, even while Corsair beat on EPS and revenue for Q4 2022.
Corsair (CRSR) has shared its Q4 2022 earnings report, and included in the results are revenue forecasts that fall below analyst expectations. Expected revenue forecasts sat at $1.5 billion, with the updated guidance ranging from $1.35 to $1.55 billion, with midrange sitting at $1.45 billion. While the company’s 2023 forecasts fall slightly below expectations, Corsair’s earnings results for Q4 2022 beat both EPS and revenue expectations.
Additionally, the company shared a Financial Outlook for 2023 in which it notes that it expects an improvement for the full year in adjusted EBITDA led by an improvement in margin, normalized shipping costs, and continued tight operating expense controls.
“We are pleased with our fourth quarter results, and our current positive trajectory for the first half of 2023, following a challenging 2022, impacted by the Russia-Ukrainian conflict, high freight costs, and large channel inventory adjustments,” explained Andy Paul, Chief Executive Officer of Corsair, in the report.
“Q4 2022 holiday sales were strong in all market categories in both Europe and our overall retail sales out from the channel was substantially above pre-pandemic 2019 levels. We benefited from an uptick in demand in the Gaming PC market fueled by new GPU and CPU launches from Nvidia, AMD, and Intrel at the end of 2022, with more expected to roll out in Q1 2023. Our enthusiast customers are now able to build faster, more powerful gaming PCs with more features for less than they could during the pandemic. Adding to this, 2023 is expected to bring a stronger slate of popular game releases compared to 2022.”
For more on Corsair’s results for Q4 2022 and its forecast for 2023, be sure to read through the full earnings report. Also check out some of our additional coverage, including where you can listen to the Corsair (CRSR) Q4 2022 earnings call.
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