Logitech Q3 Results Top Estimates; Lifts FY Outlook

(RTTNews) - Logitech International S.A. (LOGI) reported that its third quarter net income increased to $244.68 million or $1.55 per share from $140.15 million or $0.86 per share in the same quarter last year.

Non-GAAP earnings per share was $1.53, up 34 percent from the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.17 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly sales were $1.26 billion, down 1 percent in US dollars and 3 percent in constant currency, compared to the prior year. Analysts expected revenue of $1.25 billion for the quarter.

Logitech raised its sales outlook for fiscal year 2024 to a range of $4.2 billion - $4.25 billion from the prior outlook of $4.0 billion - $4.15 billion. Analysts expect revenue of $4.22 billion for the year.

The company lifts annual non-GAAP operating income guidance to a range of $610 million - $660 million from $525 million - $575 million.

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