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Logitech raises its outlook for the full year | Manila weather

LOGITECH International raised its full-year outlook following strong performance and demand growth in the second quarter, the computer keyboard and mouse maker said Tuesday.

The Swiss-American technology company now forecasts annual revenue of between $4.39 billion and $4.47 billion, up from its previous forecast of $4.34 billion to $4.43 billion.

The company’s non-GAAP operating profit rose 5% to $193 million in the quarter ended September, beating analysts’ consensus forecast of $176 million in a Visible Alpha survey.

The company, whose other products also include mobile speakers and webcams, said revenue rose 6 percent to $1.12 billion, beating forecasts of $1.10 billion.

“Our strong results and overall business momentum give us the confidence to raise our annual outlook,” said Matteo Anversa, Logitech CFO.

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The figures confirm a return to sales growth at Logitech, which faced falling demand following a pandemic-driven boom as people stocked up on equipment to work from home during lockdowns .

The company, based in Lausanne, Switzerland, and San Jose, California, said it expects non-GAAP operating profit of between $720 million and $750 million for the year, compared to its previous forecast of $700 million to $730 million.