Razer made nearly US$80 million in gross profit last year: new report
Razer has made its mid-year financial report for 2018 available on its website. Its investors may be happy to learn that the gaming-focused group amassed a US$79.5 million gross profit during the period in question. This represents a 45.9% year-on-year (YoY) improvement in these terms. It also means that the company posted revenues of US$274.2 million (a 38.5% YoY increase). The company's gross margin also saw a YoY growth of 29.0%.
In its report, Razer split its performance into the three categories it is most strongly associated with: hardware, software and services. The takings from the former division grew to approximately US$250 million (a 30.6% YoY increase). Razer also claimed that its user-based grew to over 50 million in 2018, representing a 42.9% growth in these numbers compared to 2017.
The company's services model, employed throughout 2018, also resulted in revenues of approximately $27 million. Razer also cut its operational costs by 4.3% YoY to US$53.6 million last year. All in all, it seems that the quintessential gaming brand did quite well last year. However, it is not all good news for the company: it has recently had to announce staff cuts; in addition, its flagship smartphone is competing so poorly that there may not see another generation.
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