Logitech rises on FY outlook hike, as improving demand boost Q2 numbers

Logitech International SA

22/10/2024 07:13

** Shares in Logitech International  LOGN.S  rise 3.4% in
Julius Baer pre-market trade as the Swiss computer keyboard and
mouse maker raised its FY outlook for 2025, with a set of strong
Q2 figures, driven by improving demand
    ** Logitech now expects FY sales to be between $4.39 billion
and $4.47 billion (4.06 billion-4.13 billion euros), compared to
the earlier target of $4.34 billion to $4.43 billion
    ** Its non-GAAP operating income is now expected to be in a
range of $720 million to $750 million vs $700-$730 million
previously targeted
    ** "Our strong results and overall business momentum give us
the confidence to raise our annual outlook," CFO Matteo Anversa
said
    ** "Logitech delivered another solid quarter, confirming its
return to growth while generating very high gross and operating
margins which trend above the long-term target corridor,"
Vontobel says
    ** The company's Q2 sales grew 6% to $1.12 billion, up from
$1.06 billion a year earlier
    ** The stock, which has lost 3.7% YTD, is seen at the top of
the Swiss blue chip index  .SSMI  





(1 euro = $1.0821)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))