What happened

Shares of Corsair Gaming (CRSR -11.83%) were down 10.5% as of 10:45 a.m. ET Friday, according to data provided by S&P Global Market Intelligence, as the high-performance computing gear and technology specialist merely reiterated its full-year guidance after posting slightly stronger-than-expected second-quarter results.

Corsair's second-quarter revenue climbed 14.6% year over year to $325.4 million -- slightly above the $322.1 million expected by analysts -- as healthy growth in gaming components and systems (up 26.6% year over year, to $246.7 million) was slightly offset by an 11.5% decline in revenue from gamer and creator peripherals (to $78.8 million). On the bottom line, that translated to adjusted net income of $9.8 million, or $0.09 per share (compared to a $0.20-per-share loss in the year-ago period), roughly in line with Wall Street's models.

So what

Corsair CEO Andy Paul stated the company is "very excited" with its quarterly results with solid revenue growth and expanding gross margin.

"The gaming hardware market improved during the second quarter with less discounting from peripheral competitors and continued strong gaming PC build activity driven by new games and new graphics cards launching," Paul added.

Subsequent to the end of the quarter, Corsair also announced its acquisition of certain assets of Drop, a community-based e-commerce company that specializes in "customized DIY keyboards and keycaps and many other enthusiast and audiophile products." Terms weren't disclosed for the "non-material," all-cash transaction, but Paul noted Corsair "expects some significant opportunities and synergies" both by expanding the reach of Drop's products into worldwide channels and by introducing Corsair's own custom versions of existing products on the Drop e-commerce site.

Now what

Despite modestly beating expectations in Q2, Corsair reiterated its previous full-year outlook for revenue in the range of $1.35 billion to $1.55 billion, adjusted operating income of $75 million to $95 million, and adjusted earnings before interest, taxes, depreciation, and amortization EBITDA of $90 million to $110 million.

Make no mistake: Corsair's business fundamentals appear solid and the environment in which it operates is improving. But with shares up more than 33% year to date and over 60% from their late-2022 lows leading up this report, it seems traders are taking this moderately strong quarter as an opportunity to "sell the news" and take some profits off the table.