Logitech, the Swiss-American pioneer in computer peripherals, has outperformed market expectations in its second-quarter earnings report, causing its stock to surge by 12.35%. The company, renowned for its keyboards and accessories, revealed earnings per share of $1.09 from July to September, a substantial 30% increase from the previous year, far surpassing analysts’ predictions of 59 cents. Although sales dropped by 8% to $1.
Additionally, Logitech revealed a breakdown of its sales by product category for the second quarter of Fiscal Year 2024. The gaming segment led with $282.104 million, followed closely by keyboards & combos at $194.914 million, and pointing devices at $191.676 million. While there was lower demand for gaming and video collaboration products, the tablet accessories and headsets businesses experienced growth, contributing to the overall revenue stream.
Amid this financial triumph, Logitech is also on the verge of appointing a new Chief Executive Officer, following the departure of Bracken Darrell in June. This leadership transition, coupled with the company’s stellar financial performance, has instilled confidence in investors. Gizmochina brings you the best of Chinese Tech from emerging smartphone companies, innovative startups, to crazy smart home products and revolutionary technologies.
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