Razer turns profitable for FY2020, with revenue exceeding US$1b

GAMING hardware and fintech firm Razer posted net profit of US$5.6 million for its FY2020 ended December, marking its first year of profitability since it went public in 2017.

The Hong Kong-listed company reversed a loss of US$84.2 million in the previous financial year. Earnings per share was 0.1 US cent for the full year, compared to a loss of 1 US cent in FY2019.

Razer's chief executive, Tan Min-Liang, said: "2020 marked an inflection point in which our sustained levels of revenue growth across our ecosystem of hardware, software and services resulted in Razer's first year of profitability as a public company since 2017."