Wednesday, 04 August 2021

Razer beats expectations with record high revenue of $447.5 million for H1 2020

Razer, the global lifestyle brand for gamers, announces unaudited financial results for the six months ended 30 June 2020 (1H 2020). "2020 has been a year like no other for all of us around the world. Despite the global market uncertainty caused by the COVID-19 pandemic, Razer has had a spectacular start to the year, driven by dominant brand position, user base expansion and stay-at-home trends," said Min-Liang Tan, Co-Founder and CEO of Razer.

"The global "stay-at-home" situation has boosted user engagement with gaming and esports to record levels. With our gamer/ youth-centric ecosystem of hardware, software and services, Razer is well-positioned to capture the opportunities of these secular trends. The fundamentals of our business remain as solid as ever, thanks to our entrenched brand leadership, compelling offerings across hardware, software and services and strong execution. We are confident that these factors, coupled with our strong operating cost discipline and our strong cash position of over $500 million, put us in good stead, even during times of challenging global economic conditions," he added.

Key highlights for 1H 2020 earnings

Re-disseminated by The Asian Banker