Corsair announced its financial results for Q2 2024 on August 1. In the last quarter, Corsair achieved a net revenue of 261.3 million US dollars (TapTechNews note: about 1.874 billion yuan currently), with a year-on-year decline of 19.7% and a 22.5% decrease quarter-on-quarter.
Among them, the gaming components and systems division achieved a net income of 167.1 million US dollars (about 1.198 billion yuan currently), a year-on-year decline of 32.3%, and a 27.4% decline quarter-on-quarter; while the net income of the player and creator peripherals division was 94.2 million US dollars (about 675 million yuan currently), with a year-on-year increase of 19.5% and a 6.7% decrease quarter-on-quarter.
Corsair has experienced a consecutive quarterly net loss attributable to common shareholders, with a loss of 29.6 million US dollars in the last quarter, corresponding to a diluted loss per share of 0.28 US dollars;
In addition, Corsair's adjusted net profit also turned negative, with an adjusted net loss of 6.8 million US dollars, and a diluted loss per share of 0.07 US dollars.
Corsair's Chief Financial Officer, Michael G. Potter, said:
We are implementing cost-saving measures, and took more actions in July 2024, including laying off about 100 employees and reducing some external expenditures, which is expected to reduce operating expenses in the second half of 2024.
We will continue to be committed to controlling operating expenses while continuing to support the growth of the player and creator peripherals division, which usually requires relatively high operating expenses for R & D and marketing.
Compared with the last quarter's financial report, Corsair lowered its financial outlook for the whole year of 2024 in this recent financial report, as follows:
Net income: 1.45 billion to 1.6 billion US dollars --> 1.25 billion to 1.35 billion US dollars;
Adjusted operating profit: 92 million to 112 million US dollars --> 48 million to 63 million US dollars;
Adjusted EBITDA profit: 105 million to 125 million US dollars --> 60 million to 70 million US dollars.