Video game hardware and peripherals maker Corsair Gaming (CRSR) on Tuesday crushed Wall Street’s targets for the first quarter. CRSR stock rose in early trading.
The Fremont, Calif.-based company earned an adjusted 58 cents a share on sales of $529.4 million in the March quarter. Analysts expected Corsair earnings of 33 cents a share on sales of $449.7 million. On a year-over-year basis, Corsair earnings rocketed 420% while sales jumped 72%.
In premarket trading on the stock market today, CRSR stock rose 1.7%, near 34.
CRSR stock went public on Sept. 23 with shares priced at $17. On Oct. 20, CRSR stock broke out of an IPO base at a buy point of 22.60, according to IBD MarketSmith charts. It notched an all-time high of 51.37 on Nov. 14.
Corsair makes high-end gaming peripherals such as headsets, keyboards, mice and controllers. It also sells PC components such as memory, cooling systems and power supplies as well as full gaming PC systems. Plus, it sells livestreaming gear for content creators.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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