Logitech surpasses expectations: Strong Q2 Earnings drive optimism and investor confidence

  • 📰 gizmochina
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Logitech, has outperformed market expectations in its second-quarter earnings report, causing its stock to surge by 12.35%.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 18. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Puma earnings beat estimates on strong demand for sneakersChina, Eastern Europe, and Latin America demand offsets declining US sales, the top sports market.
Source: fmtoday - 🏆 5. / 72 Read more »

Bursa sentiment cautious ahead of earnings seasonElevated US Treasury yields, Middle East conflict cap upside potential on the local front, says Malacca Securities.
Source: fmtoday - 🏆 5. / 72 Read more »

Asian shares wary on Middle East as tech earnings loomInvestors are banking on reports from Microsoft, Alphabet, Amazon, and Meta for relief this week.
Source: fmtoday - 🏆 5. / 72 Read more »

BlackRock warns of US earnings stagnation, remains bullish on AI, JapanNEW YORK: Investors looking toward US corporate earnings growth to revive the rally in the benchmark S&P 500 may be disappointed as inflation remains ...
Source: theSundaily - 🏆 25. / 51 Read more »