Razer - Positive profit warning for the end of 2020

Razer (HK. 1337) surged by 18% after it issued a positive profit alert of an expected adjusted profit before income tax, a non-GAAP measure, for the financial year ending December 31, 2020, as compared to the adjusted loss before income tax of US$40.3 million for the financial year ended December 31, 2019. It closed at $2.73 which is an 2-year high. Razer has also launched Razer Book 13. This will be the first laptop that isn’t designed with gaming in mind and follows-on from the Razer Productivity Suite of peripherals launched last month. The laptop is sleek, portable and built for productivity in mind. Razer decided to ditch the matt black and glowing neon-green logotype. The Razer Book 13 costs US$1,200. It is expected to hit shelves in the Middle East in time for December. Apart from new product launching, it announced that the GMV of peripheral products during the jumpstart 11.11 sales exceeded RMB50 million, tracking growth of 312% and 268% yearly on Tmall and JD platforms.