Posted By Uma Rajagopal
Posted on October 22, 2024
(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)
