Today's video focuses on Corsair's (CRSR +2.18%) recent earnings, reported on Nov. 2, before the market opened. Corsair's revenue saw a substantial decline year over year (YOY), causing its stock price to remain flat after earnings. Here are some highlights from the video.
- Corsair reported revenue of $391 million, down 14% YOY and down 17% quarter over quarter (QOQ). The decline in revenue was driven by a slowdown in its gaming component and systems segment and its gamer and creator peripheral segment.
- Management believes that a substantial reason for the decrease in revenue is the low availability and high cost of graphics cards, which has caused customers to build fewer computers. Fewer computers being built means fewer Corsair components being sold.
- Graphics cards could become available in the upcoming quarters, which may serve as a tailwind for Corsair. Corsair expects growth of 7% to 13% for the entire year, much lower than the growth seen last year.
Click the video below for my full thoughts and analysis.
*Stock prices used were the midday prices of Nov. 2, 2021. The video was published on Nov. 2, 2021.
