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Logitech doing better than expected

by on22 January 2019

Gaming-powered third quarter

Logitech raised its full year profit outlook thanks to strong growth in its gaming hardware business.

The mouse maker saw strong sales of its gaming products such as superfast keyboards, headphones and computer mouse used in multi-player online games like League of Legends and Fortnite.

Chief Executive Officer Bracken Darrell said Logitech’s diverse portfolio drove double digit growth across gaming, video collaboration and creativity & productivity.

The company now expects its fiscal year 2019 non-GAAP operating income to be between $340 million and $345 million, up from its previous guidance of $325 million-$335 million.

Logitech expects sales to grow between nine percent and 11 percent in constant currency during the fiscal year, which runs to the end of March.

The company had raised its guidance earlier in July, following big increases in sales of its products used in video collaboration, gaming and for computer tablets.

For third quarter ended 31 December, net income rose to $112.8 million, beating forecasts of $99.3 million in a Reuters poll of analysts.

Net sales rose eight percent to $864.4 million in the quarter, traditionally Logitech’s biggest sales period, beating predictions of $852 million. Sales from its gaming business rose 23 percent to 213.7 million.

Last modified on 23 January 2019
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