Logitech reports 75% jump in quarterly sales, raises FY outlook

Logitech International on Tuesday reported a surge in second-quarter revenue and net profit as the computer peripherals maker benefited from a shift to working from home during the COVID-19 pandemic.

Oct 20 (Reuters) - Logitech International LOGN.S on Tuesday reported a surge in second-quarter revenue and net profit as the computer peripherals maker benefited from a shift to working from home during the COVID-19 pandemic.

The maker of computer keyboards and mice also raised its full-year forecast, saying it now expects annual sales to increase between 35% and 40% in constant currencies and non-GAAP operating income of between $700 million and $725 million.

"The growth trends that drive our business have accelerated as society adjusts to its new reality," said Chief Executive Officer Bracken Darrell in a statement.

"The organization leaders I speak to envision people increasingly working from multiple locations, a hybrid work culture that is emerging as the norm."

The Swiss-U.S. firm has been profiting from people working from home, which has driven a rise in video calls, and companies refitting their offices to comply with social distancing restrictions.

Logitech said sales rose 75% to $1.26 billion in the three months to the end of September. Net income rose to $266.9 million from $73 million a year earlier.

(Reporting by Sabahatjahan Contractor in Bengaluru and John Revill in Zurich; Editing by Amy Caren Daniel)

((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

LOGN

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More