Turtle Beach Corp., a maker of gaming headsets and accessories, reported net income of $6.3 million on net revenue of $60.8 million.
Revenue was 218 percent higher than the same quarter last year, the business said in announcing its financial results on Aug. 6. In the second quarter of 2017, Turtle Beach (Nasdaq: HEAR) reported a net loss of $7.1 million on net revenue of $19.1 million.
“Our growth continues to be driven by a healthy console gaming headset market and our market share gains,” company CEO Juergen Stark said in a statement. “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.”
Turtle Beach increased its guidance for the year, saying it expects net revenue to increase 71 percent to approximately $255 million. In May, the business said it expected 2018 revenue to hit $205 million.