Corsair Gaming Drops 14% In Pre-market As Prel. Revenue Comes In Below View

Shares of gaming and streaming peripherals maker Corsair Gaming, Inc. (CRSR) are down more than 14% in the pre-market trade on Friday after the company reported preliminary first-quarter revenue below analysts’ view.

Corsair said its preliminary revenue was about $380 million in the first quarter. This compares with the average estimate of 8 analysts polled by Thomson Reuters of $440.21 million.

“Revenue was lower than we expected, mainly due to a short-term slowdown in consumer spending in Europe,” said Andy Paul, chief executive Officer of Corsair.

CRSR closed at $18.32 down $1.02 or 5.27% on Thursday. It is currently trading in pre-market at $15.72.

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