Razer posts US$31.3m H1 net profit on hardware growth

Sharanya Pillai

Published Wed, Aug 25, 2021 · 01:20 PM

GAMING hardware maker Razer posted a US$31.3 million net profit for the half-year ended June, turning around its year-ago loss of US$17.7 million.

This comes on the back of record revenue of US$752 million, up 68 per cent year-on-year, said the US and Singapore-headquartered company on Wednesday.

The bulk of its H1 topline comes from the hardware segment, where revenue grew 77 per cent to US$677.3 million

In the software segment, total user accounts increased 50 per cent year-on-year to about 150 million, while monthly active users grew by over 51.4 per cent. Razer attributed this to the rise in gaming, e-sports and livestreaming activities.

In the services business, which includes virtual credits service Razer Gold and Razer Fintech, revenue grew 13.8 per cent to US$72.8 million. Razer Gold itself recorded a 13.8 per cent rise in total payment volume.

Shares of Razer were trading at HK$1.90 as of 12.52pm SGT, up 1.6 per cent.