Turtle Beach Sees FY23 Revenue $265M-$270M Vs $268.85M Est.
Portfolio Pulse from Benzinga Newsdesk
Turtle Beach (HEAR) has raised its FY23 Adjusted EBITDA outlook to $8M-$10M, up from the previous $6M-$8M range, due to better than expected performance and cost savings initiatives. The company expects to exit 2023 with a run rate Adjusted EBITDA in the range of $28M-$33M. Despite a 12% year-to-date decrease in the PC market, the company maintains its FY23 revenue outlook of $265M-$270M, a 10% YoY increase.
November 08, 2023 | 12:57 am
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Turtle Beach has raised its FY23 Adjusted EBITDA outlook due to better than expected performance and cost savings initiatives. Despite a decrease in the PC market, the company maintains its FY23 revenue outlook.
The company's raised EBITDA outlook and maintained revenue outlook, despite a decrease in the PC market, indicates strong performance and efficient cost management. This could positively impact investor sentiment and the stock price in the short term.
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