Turtle Beach enjoyed a 218% YOY increase to net revenue in Q2 up to $60.8 million, and it's crediting a good portion of this success to the rise of battle royale--specifically, Fortnite and PUBG.
Per the company's financial report, Turtle Beach saw net revenue increase YOY from $19.1 million to $60.8 million. Its net income is up to $6.3 million YOY from a loss last Q2 of $7.1 million. Net revenue and net income were both at the highest they've been for a second quarter since the company went public in 2014.
Much of that, says Turtle Beach CEO Juergen Stark, is thanks to battle royale bringing so many new consumers into the market who are interested in headsets.
"Our growth continues to be driven by a healthy console gaming headset market and our market share gains," said Turtle Beach CEO Juergen Stark. "The successes of Fortnite and PlayerUnknown's Battlegrounds, and their innovative battle royale format, has driven new gamers into the market at significantly higher headset attach rates than we have experienced in the past. In addition, our better-than-expected execution in keeping up with consumer demand for our products allowed us to exceed our expectations."
Looking ahead to Q3, Turtle Beach expects a net revenue increase of 81% to $65 million compared to $36.0 million. For the full year, the company is looking at an increased guidance for net revenue to approximately $255 million, which would bring it up 71% YOY.