Corsair Gaming Cuts FY24 Net Revenue Forecast From $1.45B - $1.60B To $1.25B - $1.35B, Est $1.445B
Portfolio Pulse from Benzinga Newsdesk
Corsair Gaming has revised its FY24 net revenue forecast downwards from $1.45B-$1.60B to $1.25B-$1.35B, below the estimated $1.445B. Despite this, the company expects revenue and adjusted EBITDA to improve through 2024 due to better margins, stabilized shipping costs, and tight expense controls.
August 01, 2024 | 8:28 pm
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Corsair Gaming has lowered its FY24 net revenue forecast to $1.25B-$1.35B, below the estimated $1.445B. The company anticipates improved margins and adjusted EBITDA due to stabilized shipping costs and tight expense controls.
The downward revision of the revenue forecast is likely to negatively impact the stock price in the short term as it falls below market expectations. However, the company's focus on improving margins and EBITDA may provide some long-term stability.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100