Logitech Raises Full-Year Outlook

Logitech International raised its full-year outlook following a robust performance and increased demand in the second quarter, the computer keyboard and mouse maker announced on Tuesday.

The Swiss-American technology company now anticipates its full-year sales to fall within the range of $4.39 billion to $4.47 billion, an increase from the prior forecast of $4.34 billion to $4.43 billion.

Logitech's non-GAAP operating income increased by 5% to $193 million in the quarter ending in September, surpassing the analyst consensus forecast of $176 million according to a Visible Alpha poll.

Additionally, the company, which also offers mobile speakers and webcams, reported a 6% growth in revenue, reaching $1.12 billion, exceeding the forecast of $1.10 billion.

CFO Matteo Anversa stated, "Our strong results and overall business momentum give us the confidence to raise our annual outlook."

This marks a continuation of sales growth for Logitech, which had faced declining demand following a boom driven by the pandemic as consumers purchased equipment for remote work during lockdowns.

Based in Lausanne, Switzerland, and San Jose, California, the company anticipates non-GAAP operating income to be between $720 million and $750 million for the year, up from the previous forecast of $700 million to $730 million.