Video game hardware company Razer announced yesterday that it made a record-high revenue of $1.2 billion in 2020.
Razer 2020 Revenue
Based in Irvine, California, Razer reported the 2020 revenue numbers in the Orange County Business Journal. These numbers are a vast increase from what was seen in 2019 too. In 2019, Razer earned about $624 million in revenue. 2020’s earnings nearly double that of the previous year with a 48% increase and $800 thousand in net profits.
“2020 was a stellar year for Razer and one that marked an inflection point for the business,” Min-Liang Tan, Co-Founder and CEO of Razer stated. “Despite the global market uncertainty caused by the COVID-19 pandemic, Razer crossed the US $1 billion revenue milestone and turned profitable on a GAAP basis, ahead of all expectations. This performance reflects our dominant brand position, compelling offerings across our ecosystem of hardware, software and services, and strong execution. We intend to carry on the momentum and the strength of our operations into 2021 as we continue to seek to deliver both outsized revenue growth and continued profitability in 2021, and beyond.”
Continued 2021 Growth
Regarding the esports scene, the company worked to create the Razer Invitational. This 3-part esports tournament featured large competitions in Europe, Southeast Asia, and Latin America. These competitions gave out thousands in both prizing and products last year and Razer will certainly take the lead on esports in 2021.
Though the next offerings in 2021 are still unknown, Razer will take this momentum and record revenues to work even harder. The company continues to invest in the growth in gaming and esports too. Back in 2019, Min-Liang Tan announced a near $10 million investment in growing Singapore’s esports scene. Razer’s public stock offering is also doing well, opening at $0.34 today.
As Q1 of 2021 closes, fans can expect even more accomplishments and revenue records from Razer. The hardware and lifestyle brand has even more growth in store as the gaming and esports industry keeps growing.
Written by Justin Amin
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