Logitech Q2 Profit Rises; Lifts Full-year Outlook

(RTTNews) - Logitech International (LOGI) reported second quarter net income of $137.12 million up from $82.09 million in the prior year. Earnings per share was $0.86, up 72 percent compared to the prior year.

Non-GAAP earnings per share was $1.09, up 30 percent compared to the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share for the second quarter. Analysts' estimates typically exclude special items.

Sales for the second quarter were $1.06 billion, down 8 percent in US dollars and 9 percent in constant currency, compared to the prior year. Analysts expected revenue of $966.17 million for the quarter.

Logitech raised its full-year outlook for fiscal year 2024.

The company increased its annual sales guidance to a range of $4.0 billion - $4.15 billion from the prior estimation of $3.8 billion - $4.0 billion. Analysts expect revenue of $4.02 billion for fiscal year 2024.

The company raised its annual non-GAAP operating income outlook to a range of $525 million - $575 million from the previous outlook of $400 million- $500 million.