SAN DIEGO (AP) _ Turtle Beach Corp (HEAR) on Thursday reported a loss of $2.4 million in its second quarter.
On a per-share basis, the San Diego-based company said it had a loss of 16 cents. Losses, adjusted for costs related to mergers and acquisitions, were 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The audio technology company posted revenue of $41.3 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $42.1 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 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.38, a decrease of 65% in the last 12 months.