Video game hardware and peripherals maker Corsair Gaming, Inc. (CRSR) reported its first-quarter earnings on May 7, 2024, which fell short of Wall Street’s expectations. Over the past year, CRSR's stock has taken a nosedive, plunging more than 40%. With consumers scaling back on physical goods purchases and opting for more outdoor activities, it's no surprise that a gaming hardware company like Corsair is feeling the pinch.
In the first quarter, the company reported revenue of $337.26 million, nearly 7% below the analysts’ estimate of $362.77 million. Similarly, its quarterly earnings of $0.09 per share fell short of the analyst's estimate of $0.14 per share. Moreover, the company has not been able to beat consensus EPS estimates over the last trailing three quarters, including the first quarter.
