Business Corpus: Headset Maker Turtle Beach Smashes Quarterly Views, Guides HigherTurtle Beach, a top maker of headsets for video game players, late Monday crushed Wall Street's estimates for the second quarter. It also raised its outlook for the full year. The post Headset Maker Turtle Beach Smashes Quarterly Views, Guides Higher appeared first on Investor's Business Daily.

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Turtle Beach (HEAR), a top maker of headsets for video game players, late Monday crushed Wall Street's estimates for the second quarter and raised its outlook for the full year. That news sent its stock soaring in extended trading.

The San Diego-based company earned 40 cents a share on sales of $60.8 million in the June quarter. Analysts expected it to lose 2 cents a share on sales of $47.9 million. In the year-ago period, it lost 57 cents a share on sales of $19.1 million.

For the current quarter, Turtle Beach expects to earn 44 cents a share vs. a loss of 4 cents a share in the year-earlier period. It forecast sales rising 81% to $65 million. Wall Street was modeling it to lose 4 cents a share, same as a year earlier, on sales of $38.3 million, up 6%, in the third quarter.

For the full year, the company now expects to earn $1.95 a share on sales of $255 million. In May it forecast earning 95 cents a share on sales of $205 million in 2018. Last year, Turtle Beach lost 26 cents a share on revenue of $149.1 million.

Turtle Beach stock jumped 10% in after-hours trading on the stock market today. During the regular session, it fell 6.1% to 30.35. Turtle Beach stock hit a four-year high of 32.60 on Friday.

Boost From Battle Royale Games

"The strong start to 2018 has only gained momentum in the second quarter, with another period of record results," Turtle Beach Chief Executive Juergen Stark said in a news release.

He credited market share gains and a healthy market for console gaming headsets for its quarterly performance. Popular games "Fornite Battle Royale" from Epic Games and "PlayerUnknown's Battlegrounds" from Bluehole also gave it a lift.

The company's strong cash flow enabled it to recently pay down $5 million of its subordinated debt, Stark said. Turtle Beach expects to further reduce its debt over time. It currently has total outstanding debt of $27.6 million.

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