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Why Turtle Beach Stock Was Down Today

TheMotleyFool

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Shares of Turtle Beach (NASDAQ: HEAR) were trading down 16.8% as of 1:43 p.m. ET on Thursday. The gaming-peripherals maker delivered disappointing fourth-quarter earnings results, with revenue and profits falling compared to year-ago totals.

For the full year, revenue increased by 1.7% to $366 million. However, earnings per share (EPS) fell to $0.97, down from $2.37 in 2020. While the revenue was the highest in the company's history, the business didn't end the year with any momentum.

Q4 revenue came in at $109.4 million, down from $132.9 million in the year-ago quarter. Net profit was $4.5 million, down from $16.3 million.

Source Fool.com

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