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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
(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)
Operating income is the profit a company makes from its core business operations, excluding any income derived from other sources such as investments or sales of assets. It is a key indicator of a company's operational efficiency.
Corporate profits refer to the earnings of a company after all expenses, taxes, and costs have been deducted from total revenue. It is a measure of a company's financial performance and profitability.
A financial outlook is a projection of a company's future financial performance based on current trends, market conditions, and economic indicators. It helps stakeholders understand potential growth or challenges ahead.
Revenue growth is the increase in a company's sales over a specific period, often expressed as a percentage. It indicates the company's ability to expand its business and increase its market share.
Demand growth refers to the increase in consumer desire for a product or service over time. It can be influenced by various factors, including market trends, economic conditions, and consumer preferences.
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