SAN DIEGO (AP) _ Turtle Beach Corp (HEAR) on Wednesday reported first-quarter earnings of $3.1 million.
On a per-share basis, the San Diego-based company said it had profit of 9 cents. Earnings, adjusted for one-time gains and costs, were 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The audio technology company posted revenue of $44.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $41.7 million.
Turtle Beach expects full-year earnings in the range of 90 cents to $1.10 per share, with revenue in the range of $240 million to $248 million.
Turtle Beach shares have dropped 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.81, a rise of 38% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HEAR at https://www.zacks.com/ap/HEAR