Turtle Beach news in the company’s earnings report for the fourth quarter of 2018 has HEAR stock falling hard on Friday.
The outlook in the most recent Turtle Beach (NASDAQ:HEAR) earnings report is what has HEAR stock getting hit hard today. This includes earnings per share guidance between 90 cents and $1.10 for 2019. This is well below Wall Street’s earnings per share estimate of $1.64 for the year.
The Turtle Beach news also has the company expecting revenue for the full year of 2019 to range from $240 million to $248 million. Analysts are looking for the company to report revenue of $243.14 million during 2019.
Turtle Beach also provides its outlook for the first quarter of 2019 in its earnings report for the fourth quarter of 2018. The company is expecting earnings per share for the quarter to come in around 5 cents. That’s a bad look for HEAR stock with Wall Street estimating earnings per share of 9 cents for the period.
The revenue outlook for the first quarter of 2019 in the Turtle Beach news is set to be about $42 million. That’s not a blow to HEAR stock with analysts having a revenue estimate of $34.84 million for the quarter.
The poor outlook for 2019 drags down an otherwise sold earnings report. This includes earnings per share of $1.33 on revenue of $111.32 million for the fourth quarter of 2018. For comparison, Wall Street was expecting earnings per share of $1.31 on revenue of $111.32 million for the quarter.
HEAR stock was down 16% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.