financetom
Business
financetom
/
Business
/
Logitech raises full-year outlook as sales and profit expectations climb
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Logitech raises full-year outlook as sales and profit expectations climb
Oct 22, 2024 12:50 PM

Oct 22 (Reuters) - Logitech International

raised its full-year outlook after a strong performance and a

growth in demand in the second quarter, the computer keyboard

and mouse maker said on Tuesday.

The Swiss-American technology company now expects its

full-year sales in the range of $4.39 billion to $4.47 billion,

up from its previous guidance $4.34 billion to $4.43 billion.

The company's non-GAAP operating income rose 5% to $193

million in the quarter ended September, beating analyst

consensus forecast of $176 million in a Visible Alpha poll.

The company, whose other products also include mobile

speakers and webcams, said revenue grew 6% to $1.12 billion,

beating the forecast of $1.10 billion.

"Our strong results and overall business momentum give us

the confidence to raise our annual outlook," Logitech CFO Matteo

Anversa said.

The figures continued a return to sales growth at Logitech,

which struggled with lower demand following a pandemic-driven

boom, as people stocked up on its equipment to work from home

during lockdowns.

The company, based in Lausanne, Switzerland, and San Jose,

California, said it expects non-GAAP operating income to be

between $720 million and $750 million for the year, compared

with its previous guidance of $700 million to $730 million.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved