Turtle Beach (HEAR) Stock Gains on Q2 Earnings Beat

Turtle Beach (NASDAQ:HEAR) stock was gaining after the bell following the company’s quarterly earnings report, which included a profit and revenue that topped analysts’ outlook.

Turtle Beach (HEAR)The sound card and headset manufacturer had a successful earnings showing for its second quarter of fiscal 2018 thanks to the success of online battle royale games such as Fortnite and PlayerUnknown’s Battlegrounds. Many of the gamer who buy these titles have been turning to Turtle Beach for its high-quality headphones and headsets.

The company said that for the period, it brought in earnings of 40 cents per share, which was stronger than the losses of 2 cents per share that analysts were calling for. It also amassed revenue of $60.8 million during the period, which was stronger than the Wall Street consensus estimate for revenue of $47.9 million.

Both figures were stronger than they were during the year-ago quarter, when Turtle Beach posted losses of 57 cents per share and revenue of $19.1 million. For the third quarter of the current fiscal year, the company sees earnings at 44 cents per share, ahead of the losses of 4 cents per share from the year-ago quarter.

Analysts are calling for the headset maker to bring in losses of 4 cents per share. Turtle Beach also forecasts revenue of $65 million, an 81% increase compared to the year-ago quarter, while analysts estimate sales of $38.3 million.

HEAR stock surged 1.5% after hours Monday on its strong earnings showing, while shares were down 6.1% during regular trading hours.

Article printed from InvestorPlace Media, https://investorplace.com/2018/08/turtle-beach-hear/.

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