Video games headset maker Turtle Beach (HEAR) late Thursday topped Wall Street's goal for the fourth quarter. But it was disappointed with weak income management, which sent its stock tumbling into extended trading.
San Diego-based companies deserve an adjusted $ 1.33 per share for $ 111.3 million sales in the December quarter. Analysts expected Turtle Beach profits of $ 1.31 per share for $ 110 million sales. On an annual basis, Turtle Beach profits increased by 15% while sales increased 40%.
For the current quarter, the company expects an adjusted profit of 5 cents per share for $ 42 million sales. Wall Street was modeling Turtle Beach profits of 12 cents, a $ 38 million share, according to Zacks Investment Research.
In 2019 Turtle Beach led an adjusted earnings per share of $ 1 per share of $ 244 million. Analysts were looking for $ 1.76 in earnings per share on sales of $ 250 million.
Turtle Beach Result Outlook has Investors Reeling
The Turtle Beach share fell 12% in the after-trade on the stock market today. During the regular session, it rose 1.9% to 16.25.
Chef Juergen Stark said the sale of the gaming head is strong thanks to the popularity of online fight-royal video games such as "Fortnite" from Epic Games and "Apex Legends" from Electronic Arts (EA).
Turtle Beach also acquires market share, he said in a press release.
"According to NPD, the market share for North America in 2018 ended at 46.1% 42.4% in 2017, positioning us as the clear leader in the console game headset market," says Stark. "In 2018, the market for headset headsets, measured in revenue , 69%, while Turtle Beach was 84%. "
Turtle Beach also announced on Thursday that the plan would be acquired Roccat, a German computer peripheral company. Roccat manufactures gaming mice, keyboards and other accessories.
Turtle Beach buys Roccat in a mostly cash fee of $ 15.8 million, including $ 3.4 million in potential payments based on meeting environments.
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