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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 +2.89% /zigman2/quotes/204321690/composite LOGI +5.34% 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.

CH : Switzerland: SWX
CHF 94.10
+2.64 +2.89%
Volume: 1.25M
May 14, 2021 5:30p
P/E Ratio
Dividend Yield
Market Cap
CHF15.44 billion
Rev. per Employee
US : U.S.: Nasdaq
$ 105.31
+5.34 +5.34%
Volume: 1.21M
May 14, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$17.04 billion
Rev. per Employee

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