Logitech lifts annual forecasts for third time as quarterly revenue soars By Reuters

2/2
© Reuters. FILE PHOTO: Logitech keyboards are seen within the pc store in Zenica

2/2

(Reuters) – Logitech (NASDAQ:) Worldwide on Tuesday raised its annual forecasts and reported a greater than three-fold soar in quarterly adjusted working earnings, benefiting from a pandemic-driven enhance in demand for work-from-home merchandise and gaming equipment.

The pc peripherals maker is elevating the 2021 outlook for gross sales progress and revenue for the third time. It now expects gross sales progress for the complete 12 months at 57% to 60% in fixed forex phrases and adjusted working earnings of $1.05 billion.

Demand for its video conferencing units and pc gaming peripherals soared as extra folks labored from houses, whereas gaming console gross sales jumped on account of shut down of cinemas and different leisure services.

Gross sales on the firm, which makes cell audio system, keyboards, mice and video conferencing units, elevated 85% to $1.67 billion within the third quarter, which has historically been the corporate’s greatest gross sales interval.

Logitech had beforehand forecast annual gross sales progress of 35% to 40% in fixed forex phrases and adjusted working earnings between $700 million and $725 million.

“We’re more and more investing in our capabilities and other people for the expansion potential we see sooner or later,” Bracken Darrell, Logitech chief government officer mentioned.

Excluding gadgets, the Swiss-U.S. firm’s web revenue rose to $2.45 per share within the three months ending December, up from $0.84 per share a 12 months earlier.

(Story corrects to say greater than, not practically, three-fold soar in paragraph 1)

Disclaimer: Fusion Media wish to remind you that the info contained on this web site will not be essentially real-time nor correct. All CFDs (shares, indexes, futures) and Foreign exchange costs are usually not offered by exchanges however quite by market makers, and so costs is probably not correct and should differ from the precise market worth, which means costs are indicative and never applicable for buying and selling functions. Due to this fact Fusion Media doesn`t bear any duty for any buying and selling losses you may incur on account of utilizing this information.

Fusion Media or anybody concerned with Fusion Media won’t settle for any legal responsibility for loss or harm on account of reliance on the data together with information, quotes, charts and purchase/promote alerts contained inside this web site. Please be totally knowledgeable concerning the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding varieties attainable.

Recent Articles

The Property Line: Why You Ought to Cease Ready to Promote Your House – NerdWallet

Actual property brokers have an pressing message for householders: Now could be the time to promote. "Lots of people are lacking the very best...

US fintech for avid gamers Zytara indicators funds partnership with i2c – FinTech Futures

Zytara, an upcoming digital financial institution for millennials and Gen Z, has...

What I have been studying – Marginal REVOLUTION

1. Kevin Donnelly, Adolphe Quetelet, Social Physics, & the Average Men of Science, 1796-1874.  The Belgian Quetelet was one of many pioneers of making...

r/shares – Coinbase pre-IPO shares soar on FTX after S-1 drop

Merchants on FTX seem bullish on Coinbase after the discharge of its long-awaited S-1. The thinly traded pre-IPO contract was up throughout Thursday's morning session,...

‘Their hair is on fireplace’: Trump followers await return to political stage

On his closing day within the White Home final month, Donald Trump advised a small crowd of supporters at Joint Base Andrews, the navy...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox