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Turtle Beach Q2 loss narrows YOY

Turtle Beach Corp. said its normalized net income for the second quarter came to a loss of 15 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 24 cents per share.

The per-share loss decreased 21.9% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $7.3 million, compared with a loss of $8.0 million in the year-earlier period.

The normalized profit margin climbed to negative 25.0% from negative 35.6% in the year-earlier period.

Total revenue grew 29.9% on an annual basis to $29.4 million from $22.6 million, and total operating expenses climbed 10.6% year over year to $38.7 million from $35.0 million.

Reported net income came to a loss of $42.3 million, or a loss of 86 cents per share, compared to a loss of $9.7 million, or a loss of 23 cents per share, in the prior-year period.