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Shares of Turtle Beach soar after preliminary first-quarter earnings beat forecast

The company's 'strong' 1Q start has accelerated, CEO says
Video game handset
The stock gained 46% on the news

Shares of Turtle Beach Corp. (NASDAQ:HEAR) climbed after the gaming-headset and audio-accessory company said first-quarter earnings probably beat its forecast.

The stock gained 46% to US$3.73 at 11:12 a.m.

Turtle Beach’s first-quarter preliminary earnings before interest, tax and depreciation are expected to be between US$3.5mln and US$4.5mln, the firm said today in a statement. That’s ahead of its prior forecast of US$1.5 mln.

The San Diego-based company also expects to report first-quarter revenue ranging between US$39.5mln and US$40.5mln. It previously forecast US$29mln.

“The strong start we experienced early in the first quarter has accelerated, further increasing our significant Q1 growth," Chief Executive Officer Juergen Stark said in the statement.

 

 

 

 

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