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Turtle Beach (HEAR): Q3 2019 Earnings Snapshot

—  Turtle Beach Corporation (NASDAQ: HEAR) reported third-quarter 2019 loss of $0.18 per share, vs. $0.23 per share loss expected.

— Total revenue fell 38% to $46.7 million, vs. $42.8 million expected. The decrease was primarily due to the expected decline in demand from the record levels in the prior year, driven by new headset users buying their first headset for Battle Royale games.

— Q3 Adjusted EBITDA of $0.3 million, compared to $17.6 million in the year-ago quarter

— For FY19, now expects revenue to range between $236 million and $242 million, compared to the earlier guidance of $240 million to $248 million. Adjusted EPS for this period is expected to range between $0.65 and $0.75, lower than the prior guidance of $0.90 to $1.10 per share.

— HEAR shares plunged 15% immediately following the announcement.

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