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Logitech quarterly gross sales rise on work-from-home increase

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Logitech has been having fun with a increase through the coronavirus pandemic, as workers working from dwelling purchased extra of its keyboards and mice, whereas its webcams have been additionally more and more used for distant conferences.

Logitech International SA reported on Tuesday a rise in its gross sales within the second quarter as the pc peripherals maker continued to see a surge in demand for its merchandise from stay-at-home staff.

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The Swiss-American maker of keyboards, mice and headsets stated its gross sales within the three-month interval ended Sept. 30 elevated 4% to $1.31 billion, beating forecast of $1.25 billion from a Refinitiv ballot of analysts.

Non-GAAP working earnings, nevertheless, declined 40% to $211 million through the quarter, the corporate stated in an announcement.

Logitech has been having fun with a increase through the coronavirus pandemic, as workers working from dwelling purchased extra of its keyboards and mice, whereas its webcams have been additionally more and more used for distant conferences.

Players of video games comparable to League of Legends, Fortnite and over multiplayer video games have additionally been a driver of development, buying headsets, and specifically tailored keyboards and controllers. The firm on Tuesday maintained its annual outlook for the monetary 12 months by means of March 2022, and stated it expects a full-year non-GAAP working earnings of $800 million to $850 million.

“We are confirming our full-year outlook, despite unprecedented supply chain industry challenges,” Chief Executive Bracken Darrell stated in an announcement.

The firm additionally forecast flat gross sales development in fixed forex, plus or minus 5%.

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