NEWS
Logitech raises full-year outlook as sales and profit expectations climb
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(Reuters) -Logitech International 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)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.
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