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Turtle Beach Q2 loss widens 21.1% YOY

Turtle Beach Corp. said its normalized net income for the second quarter came to a loss of 19 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 19 cents per share.

The per-share loss grew 17.2% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $8.0 million, compared with a loss of $6.6 million in the year-earlier period.

The normalized profit margin declined to negative 35.6% from negative 29.8% in the year-earlier period.

Total revenue rose year over year to $22.6 million from $22.3 million, and total operating expenses increased 9.6% year over year to $35.0 million from $31.9 million.

Reported net income totaled a loss of $9.7 million, or a loss of 23 cents per share, compared to a loss of $9.4 million, or a loss of 23 cents per share, in the prior-year period.