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

Logitech shares jump on earnings beat, hiked guidance

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By Steve Goldstein

Shares of Logitech International /zigman2/quotes/204771595/delayed CH:LOGN +2.25% /zigman2/quotes/204321690/composite LOGI +4.11% 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.

/zigman2/quotes/204771595/delayed
CH : Switzerland: SWX
CHF 78.14
+1.72 +2.25%
Volume: 853,089
Nov. 26, 2020 5:31p
P/E Ratio
20.86
Dividend Yield
1.02%
Market Cap
CHF12.90 billion
Rev. per Employee
CHF444,902
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/zigman2/quotes/204321690/composite
US : U.S.: Nasdaq
$ 85.94
+3.39 +4.11%
Volume: 1.06M
Nov. 25, 2020 4:00p
P/E Ratio
21.86
Dividend Yield
1.02%
Market Cap
$14.18 billion
Rev. per Employee
$450,887
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