Logitech raises full-year outlook as sales and profit expectations climb (updated)

Logitech International SA

22/10/2024 02:49

(Adds details from paragraph 2)
       Oct 22 (Reuters) - Logitech International  LOGN.S 
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.
    

 (Reporting by John Revill and Surbhi Misra; Editing by Rashmi
Aich)
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