Logitech: share jumps as outlook for 2023 raised

(CercleFinance.com) - On Tuesday, Logitech raised its full-year guidance for the current financial year after posting better-than-expected Q2 results.


The digital accessories maker reported a 17% increase in operating profit to $183m for Q2 ended September.

The group said that a 9% reduction in costs more than offset the 8% decline in sales over the period, to $1.06bn.

Logitech now anticipates FY sales of $4bn to $4.5bn, instead of $3.8bn to $4bn previously.

Operating profit is now expected between $525m and $575m, vs. $400m to $500m previously.

Following these announcements, the Lausanne-based group's share price jumped almost 10% and has recovered 16% this year.


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