The gaming industry is a multi-billion-dollar market with massive opportunity in both the hardware and software sector. With the new rise of virtual reality and the potential future of augmented reality, companies now much formulate a plan to cater to that sub-market. Companies such as Sony have already begun doing so by developing virtual reality technology that they are able to get to the masses.
One company in particular that has caught our eyes due to outweighed performance in their sector: Turtle Beach Corporation (NASDAQ:HEAR)
Turtle Beach is involved in the development and deployment of innovative audio products with specific focus and interest in gaming related audio devices. The company operates through two segments, with one focusing on gaming headsets and the other focusing on innovative audio technology.
Shares of HEAR have outperformed 90% of the 64 companies in the Communications Equipment industry. The company’s recent quarters have exceeded expectations and outlooks. Second quarter of 2018 net revenues increased 218% up to $60.8 million; net income is also up to $6.3 million from a net loss of $7.1 million. In the last year, Turtle Beach has snagged an additional 5.7% of the gaming headset revenue share, currently up to 45.5% of total console headset sales in the US and Canada.
Turtle Beach has thanked this growth to what they refer to as the “Battle Royal Impact.” Essentially, Turtle Beach is saying with the rise of battle royal based video games, their headphone sales have increased as well. This is because of the “social aspect and survival advantage driving headset usage.” Roughly 80% of battle royal players use a headset when they play according to the company, due to the strategic advantage it brings.
There are new Battle Royal style games coming out every month, including the highly anticipated Call of Duty franchise battle royal set to become available with their next game.
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