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New York Markets After Hours

Oct. 20, 2020, 4:03 a.m. EDT

Logitech shares jump on earnings beat, hiked guidance

Shares of Logitech International (SWX:CH:LOGN) (NAS:LOGI) jumped 15% in Swiss trade after the computer peripheral maker said its fiscal second-quarter profit jumped to $266.9 million from $72.9 million, as sales surged 75% to $1.26 billion. On an adjusted basis, Logitech said it earned $1.87 a share. Analysts polled by FactSet had expected earnings of $1.70 a share on sales of $1.14 billion. Logitech hiked its annual guidance, now seeing between 35% and 40% sales growth at constant currencies and operating income between $700 million to $725 million, versus its previous outlook of sales growth between 10% and 13% and a range of $410 million to $425 million in operating income.

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