Logitech: raises full-year guidance on record quarter

(CercleFinance.com) - Logitech offered a bullish outlook for its annual sales and profit after trading on Monday, which sent its shares soaring over 17% on the Swiss SIX Exchange on Tuesday morning.


The computer peripheral maker raised its fiscal year 2021 sales growth outlook to between 35% and 40% at constant currencies, from a previous outlook of between 10% and 13%.

Logitech also forecast non-GAAP operating profit of between 700 million dollars and 725 million dollars, compared to a previous range of just 410 million dollars to 425 million dollars.

For the second quarter of fiscal year 2021, sales were 1.3 billion dollars, up 73% at constant currencies, the first time ever that quarterly sales exceeded the billion-dollar mark.

In comparison, the consensus expected just 850 million dollars.

Second-quarter non-GAAP operating profit rose to 354 million dollars, from 89 million dollars in the same quarter a year ago.

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