Logitech International (LOGN.S) announced on Tuesday that it has raised its full-year outlook, driven by robust performance and increased demand during the second quarter.
The Swiss-American technology firm now projects full-year sales to range between $4.39 billion and $4.47 billion, up from its earlier guidance of $4.34 billion to $4.43 billion.
In the quarter ending September, Logitech reported a 5% increase in non-GAAP operating income, reaching $193 million, surpassing analysts’ expectations of $176 million, according to a Visible Alpha poll. The company also experienced a 6% rise in revenue, totaling $1.12 billion, which exceeded the forecast of $1.10 billion.
“Our strong results and overall business momentum give us the confidence to raise our annual outlook,” stated Logitech CFO Matteo Anversa.
These figures signal a resurgence in sales growth for Logitech, which faced declining demand after a pandemic-induced surge in 2020, when consumers stocked up on equipment for remote work during lockdowns.
Headquartered in Lausanne, Switzerland, and San Jose, California, Logitech now anticipates non-GAAP operating income between $720 million and $750 million for the year, an increase from its previous forecast of $700 million to $730 million.
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