Stock Alert: Turtle Beach Shares Soar After Upbeat Q4 Earnings, Q1 Outlook

(RTTNews) - Shares of Turtle Beach Corp. (HEAR) rose more than 9% in the extended trading session on March 10, after the company reported adjusted EPS of $0.83, well above the analysts estimate of $0.70 per share. Also, the company issued upbeat financial guidance for the first quarter.

The company's Q4 net income was $20.4 million or $1.29 per share versus $24.6 million or $1.33 per share last year. Adjusted net income was $13.0 million or $0.83 per share compared to $21.5 million or $1.33 per share in the prior year period. Net revenue was $101.8 million, lower than the previous year's $111.3 million.

2020 Outlook

For the first quarter of 2020, the company expects revenue to range between $29 million and $31 million, net loss per share between $0.73 and $0.81, and adjusted loss per share of $0.72 and $0.80. Wall Street analysts estimate a loss of $0.23 per share and revenue of $26.94 million for the quarter.

For the full year 2020, the company expects revenue to range between $214 million and $224 million, net loss of $0.13 - $0.46 per share, and adjusted net loss per share of $0.12 - $0.45. Analysts expect a loss of $0.28 per share and revenue of $217.38 million for 2020.