Turtle Beach: 3Q Earnings Snapshot
SAN DIEGO (AP) _ Turtle Beach Corp (HEAR) on Tuesday reported third-quarter net income of $14.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had net income of 91 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The audio technology company posted revenue of $74.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $73.7 million.
For the current quarter ending in December, Turtle Beach said it expects revenue in the range of $94 million.
The company expects full-year earnings to be $2.55 per share, with revenue expected to be $270 million.
Turtle Beach shares have risen elevenfold since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.71, increasing eightfold in the last 12 months.